In our first chapter, we provided a review of how modern (neoclassical) economics operates as a social science-based means of allocating «scarce» resources, including the philosophy behind the assumptions that govern the operation of that model of how economies work. In this approach markets are seen as especially important as a means of making economic decisions and guiding the allocation of productive resources.
CITATION STYLE
Hall, C. A. S., & Klitgaard, K. (2018). Biophysical Economics: The Material Basis. In Energy and the Wealth of Nations (pp. 81–100). Springer International Publishing. https://doi.org/10.1007/978-3-319-66219-0_4
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