Georgescu-Roegen (Nicholas Georgescu-Roegen)

Nicholas Georgescu-Roegen was a Romanian-American economist and statistician known for his work in ecological economics. He emphasized the importance of entropy, a concept from thermodynamics, in understanding economic processes. Georgescu-Roegen argued that all economic activities involve the transformation of energy and matter, which are subject to natural limits. He challenged traditional economic theories that ignored these constraints, advocating for sustainable development and the recognition of the environment's finite resources. His ideas laid the groundwork for integrating ecological concerns into economic policy, highlighting the relationship between economic growth and environmental sustainability.