Nicholas Georgescu-Roegen

Nicholas Georgescu-Roegen was an economist who emphasized the importance of natural resources and ecological limits in economic thinking. He argued that economic growth cannot continue indefinitely because it depends on finite resources and produces waste that our environment cannot always absorb. His work introduced the concept of "entropy" from physics to economics, highlighting that resources degrade over time. Georgescu-Roegen urged society to consider sustainability and the long-term impact of economic activity, advocating for more efficient use of resources and a shift toward a steady-state economy to preserve ecological balance.