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The Metabolic Pattern of Societies

Where Economists Fall Short

Kozo Mayumi author Mario Giampietro author Alevgül Şorman author

Format:Paperback

Publisher:Taylor & Francis Ltd

Published:30th May '14

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The Metabolic Pattern of Societies cover

This book presents a new analytical framework for understanding sustainability issues, challenging traditional economic models and offering innovative insights into socio-economic systems.

In The Metabolic Pattern of Societies, the author critically examines the limitations of traditional economic analysis in understanding sustainability and the ongoing planetary crisis. Despite experiencing five major recessions driven by soaring oil prices, economists failed to predict the current environmental challenges. This book presents over two decades of research that advocates for a new analytical framework, enabling a comprehensive evaluation of socio-economic systems through previously overlooked indicators and variables.

The narrative highlights the inadequacies of conventional economic models, illustrating how they fall short in addressing the complexities of sustainability. By providing practical examples, the author sheds light on the systemic issues that arise when attempting to apply quantitative analysis to governance. Furthermore, the book critiques the prevalent economic narratives surrounding sustainability, proposing innovative concepts that pave the way for a post-Newtonian approach to quantitative analysis within the Musiasem framework.

In its empirical section, the book analyzes structural changes across global and EU economies, revealing the questionable quality of many current sustainability narratives. The comprehensive analysis spans various hierarchical levels and disciplines, ultimately offering a more realistic measure of happiness and well-being. The Metabolic Pattern of Societies serves as a valuable resource for researchers and students interested in sustainability across multiple fields.

'This is a wide-ranging and thought-provoking book. As a guiding biological metaphor the metabolic flow replaces the circulatory fixation of standard economics. Many insights ranging from an elaboration of Georgescu-Roegen's fund-flow model, to the clever explanation of dimensional incongruities such as "cubic dollars", and the strange case of the elephant as a dematerialized mouse will instruct and delight the reader.' - Herman Daly, Professor Emeritus, University of Maryland

'Giampietro, Mayumi and Sorman clearly and convincingly show that the idea of metabolism of societies and economic systems can be a guiding principle for a new economics of production. The demise of Walrasian economics has left a void in economic theory and policy and this book goes a long way in filling that gap. On the behavioral side progress is being made to construct a realistic theory of economic decision making but the same cannot be said for the production side of the economy. The authors have taken a large step forward in constructing a framework to analyze production in its biophysical and social context.' - John Gowdy, Rittenhouse Professor of Humanities and Social Science and Professor of Economics, Rensselaer Polytechnic Institute, Troy, New York, USA

ISBN: 9781138802926

Dimensions: unknown

Weight: 612g

408 pages