Transitions of energy regimes are phenomena that have profoundly
affected economies and civilisations over the last 600 years. The
shifts from wood to coal, from coal to oil and the potential change
to another resource that might be pending now have influenced the
ways in which we work, produce, and live. Though they are
fundamentally influenced and steered by economic forces these
changes have seen little analysis from the viewpoint of economic
theory. This book seeks to contribute to filling this gap. To this
avail, it firstly provides insight into the historical and present
transitions that have taken place. It then gives an overview of the
existing economic approaches to energy regime transitions and
develops a new interpretation based on evolutionary economics. For
this, an approach based on complexity theory and complex adaptive
systems is created and applied and the mechanisms behind regime
changes are interpreted according to this framework. The analysis
is supported by further research into certain aspects of
transitions: Historical and present research on resource depletion
is compared, the working of path dependence in the constitution and
decline of the oil regime is analysed, and the role of
entrepreneurship in a regime change from the oil regime towards a
potential renewable energy regime is investigated. The book closes
with an appraisal of energy regime transitions as a future field of
research for evolutionary economics.
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