[p2p-research] Scientific American: Does Economics Violate the Laws of Physics?

[Stan Rhodes]

I read this before, and was amazed at how confused it was.  Reading it
again, I just think it's sensationalist nonsense.

1) Neoclassical theory and the resulting neoclassical synthesis, by any
stretch of the imagination, does NOT "violate the laws of physics" or "the
laws of thermodynamics."
2) Peak oil, coal, and gas are not news to even "mainstream" "Chicago
economists."
3) Energy is but one aspect of economics.  "Biophysical economists" ignore
the most important aspect: behavioral science, specifically, psychology +
sociology + anthropology.  That's the hard part, and the part that's vital
for creating or modifying multi-level systems that manage and sustain common
pool resources.

"Of course I'm trying to send a message," said Joseph Tainter, chairman of
Utah State University's Department of Environment and Society. "I just don't
expect there's anyone out there to receive it."

That sort of schlock is fine for The Huffington Post, but Scientific
American ought to be ashamed.

-- Stan
On Wed, Oct 28, 2009 at 12:13 PM, Ryan Lanham <rlanham1963 at gmail.com> wrote:

> http://www.scientificamerican.com/article.cfm?id=does-economics-violate-th
>
> --
> Ryan
>
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