Link between economics and physics, Jean-Marc Jancovici

Link between economics and physics, Jean-Marc Jancovici

What was the nature of their innovation and how did it contribute to humankind? The link between economics and physics, i.e. the physical world, is dramatically overlooked in current economics because its consequences are very difficult to sell. For example, he demonstrates that GDP depends on the energy (and resources) available rather than on innovation, and he shows that this is why economic growth has entered a stagnating phase in the developed world. He also believes that renewable energies will not offset the decline of fossil energies to guarantee us the same living standard: in spite of the current remarkable increase in energy generated by renewable means, there is still a larger increase in fossil energy. This means that renewable energy does not even account for half of the increase in energy consumption worldwide. His work is wide, thorough and in a very overlooked and crucial field. See more here: https://jancovici.com/en/

Points

Economists can create as many theories as they want, but while these theories do not account for the physical world, they are going to be wrong. It is impossible to create a sustainable economic system without a good understanding on how the physical world shapes economics.

This sounds like general ecological economics to me - which is of course important! - but there is a whole community behind this approach. What is Jean Marc Jancovici's specific contributions?

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