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The Economics of Energy and the Production Process - An Evolutionary Approach (Hardcover, illustrated edition)
Loot Price: R3,031
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The Economics of Energy and the Production Process - An Evolutionary Approach (Hardcover, illustrated edition)
Series: New Horizons in Institutional and Evolutionary Economics series
Expected to ship within 12 - 17 working days
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The economics of energy has been a contested issue over the past
century. Although it has not figured prominently in mainstream
economics, numerous alternative proposals have called for energy to
play a more central role in economic theory. In this highly
original and enlightening volume, Guido Buenstorf develops a new
conceptual approach to the economics of energy which originates
from recent advances in evolutionary economics. The book proposes a
non-reductionist, evolutionary approach to the economics of energy
and sets out by asking how energy use in production contributes to
the use value of goods. Based on a sequential production framework,
the author re-interprets the notion of factors of production,
identifies long-term patterns of change in energy use, and
highlights the role of technical interdependence in adopting new
energy technologies. This approach is then applied to three
historical cases of energy innovation: the transition from wood to
coal, the introduction of the steam engine, and the electrification
of industrial production. Academics and researchers in the fields
of evolutionary economics, ecological economics and innovation will
welcome this fresh and illuminating interpretation of the economics
of energy and its role in the process of production.
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