Nicholas Georgescu-Roegen | Wikipedia audio article
Channel: wikipedia tts
Date: 2019-03-25

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/Nicholas_Georgescu-Roegen


00:04:04 1 Life and career
00:05:10 1.1 Childhood, adolescence and education
00:09:53 1.2 Studying in Paris and London
00:13:22 1.3 Trip to the United States, meeting Schumpeter
00:16:52 1.4 The Romanian 'exile' and the flight from there
00:21:39 1.5 Settling in the United States, years at Vanderbilt University
00:29:15 1.6 Retirement, later years and death
00:33:26 2 Work
00:35:12 2.1 Magnum opus on iThe Entropy Law and the Economic Process/i
00:36:06 2.1.1 The shortcomings of both neoclassical economics and of Marxism
00:36:42 2.1.2 The relevance of thermodynamics to economics
00:38:20 2.1.3 Conceptions of scarcity
00:41:40 2.1.4 The flow-fund model of production
00:44:55 2.1.5 Man's economic struggle and the social evolution of mankind (bioeconomics)
00:47:45 2.1.6 Population pressure, mineral resource exhaustion and the end of mankind
00:50:29 2.2 Work after magnum opus
00:50:55 2.2.1 Criticising neoclassical economics (weak versus strong sustainability)
00:57:25 2.2.2 Criticising Daly's steady-state economics
01:01:37 2.2.3 Technology assessments in historical perspective
01:07:23 3 Mistakes and controversies
01:14:41 4 Prizes and awards
01:14:51 4.1 The Georgescu-Roegen Prize
01:15:13 4.2 The Georgescu-Roegen Annual Awards
01:16:14 5 Famous quotes
01:17:19 6 See also



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- Socrates


SUMMARY
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Nicholas Georgescu-Roegen (born Nicolae Georgescu, 4 February 1906 – 30 October 1994) was a Romanian American mathematician, statistician and economist. He is best known today for his 1971 magnum opus on The Entropy Law and the Economic Process, in which he argued that all natural resources are irreversibly degraded when put to use in economic activity. A progenitor and a paradigm founder in economics, Georgescu-Roegen's work was seminal in establishing ecological economics as an independent academic sub-discipline in economics.
Several economists have hailed Georgescu-Roegen as a man who lived well ahead of his time, and some historians of economic thought have proclaimed the ingenuity of his work. In spite of such appreciation, Georgescu-Roegen was never awarded the Nobel Prize in Economics, although benefactors from his native Romania were lobbying for it on his behalf. After Georgescu-Roegen's death, his work was praised by a surviving friend of the highest rank: Prominent Keynesian economist and Nobel Prize laureate Paul Samuelson professed that he would be delighted if the fame Georgescu-Roegen did not fully realise in his own lifetime were granted by posterity instead.In the history of economic thought, Georgescu-Roegen was the first economist of some standing to theorise on the premise that all of earth's mineral resources will eventually be exhausted at some point. In his paradigmatic magnum opus, Georgescu-Roegen argues that economic scarcity is rooted in physical reality; that all natural resources are irreversibly degraded when put to use in economic activity; that the carrying capacity of earth – that is, earth's capacity to sustain human populations and consumption levels – is bound to decrease some time in the future as earth's finite stock of mineral resources is being extracted and put to use; and consequently, that the world economy as a whole is heading towards an inevitable future collapse, ultimately bringing about human extinction. Due to the radical pessimism inherent in his work, based on the physical concept of entropy, the theoretical position of Georgescu-Roegen and his followers was later termed 'entropy pessimism'.Early in his life, Georgescu-Roegen was the student and protégé of Joseph Schumpeter, who taught that irreversible evolutionary change and 'creative destruction' are inherent in capitalism. Later in his life, Georgescu-Roegen was the teacher and m ...