What is Biophysical Economics?

Biophysical economics is the study of the ways and means by which human societies procure and use energy and other biological and physical resources to produce, distribute, consume and exchange goods and services, while generating various types of waste and environmental impacts. Biophysical economics builds on both social sciences and natural sciences to overcome some of the most fundamental limitations and blindspots of conventional economics. It makes it possible to understand the key requirements and framework conditions for economic growth, as well as related constraints and boundaries.

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