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 in the process. These ways and means vary in time and space according to the internal structures of societies and economies, and according to the patterns of energy and resource use by their various components and constituents.
Biophysical economics provides an alternative view of the economic process, which builds on both social sciences and natural sciences to overcome some of the most fundamental limitations and blindspots of ‘mainstream economics’. It allows to better understand the key framework conditions and requirements for economic growth, as well as the related constraints and boundaries.
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