Literature Review about Mainstream Economics and Biophysical Economics

Abstract

The history of human culture can be viewed as the progressive development of new energy source and their associated conversion technologies. For example, the invention of steam engines and internal combustion engines, led to the substitution of coal and oil for animal power and firewood as the main sources of energy, and eventually led to the industrial revolution. As results, these developments increased the economic and life quality. There are so much study indicates that there is a strong correlation between energy and economic growth. The role of energy in the economic system has come in for much discussion. For now, some debate still continues about the relationship between energy and economic growth from different perspective.