What did Georgescu-Roegen's theory focus on?
Entropy
Supply and demand
Market equilibrium
Consumer behavior
Answer
Entropy, a measure of disorder, was the focus of Georgescu-Roegen's theory. He argued that economic processes inevitably increase entropy, leading to the depletion of natural resources and the degradation of the environment. This process, known as "entropy production," imposes limits on economic growth and development. Georgescu-Roegen's theory emphasized the importance of sustainability and the need to consider the long-term consequences of economic activities on the environment.
Nicholas Georgescu-Roegen Knowledge Showdown: 31 Questions to Prove Your Worth
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