Economic development, environmental challenges & the interests of future generations: Nicholas Georgescu-Roegen’s advice revisited
Year: 2026
Type: article
Abstract: The concern about the current generation’s overuse of the earth’s resources, at the expense of future generations, is not new. A thorough assessment was made half a century ago by Nicholas Georgescu-Roegen in an article which inspired the subsequent “degrowth” literature. However, it is argued that it would be a misunderstanding to see Georgescu-Roegen as an advocate of “degrowth” or a stationary economy. Rather what he suggested was to overhaul the working of the global economy (and the policies associated with it) so that the world becomes a more equitable place, nature is better protected, and the harm to future generations becomes as small as possible. A key element in making this possible, according to Georgescu-Roegen, was transitioning from a fossil-fuel driven to a solar-powered economy. It is argued that Georgescu-Roegen’s approach (and program) is indeed very relevant for contemporary discussions on just transition, inequalities and well-being.
Author: Jan Fagerberg
Institution: University of Oslo
Language: English
Subfield: Management, Monitoring, Policy and Law
Field: Environmental Science
Domain: Physical Sciences
Open Access status: hybrid
Estimated APC paid: $3,610
OpenAlex ID: W7123338785