Book review: “Energy and the Wealth of Nations”
By Richard E. Vodra, JD, ASPO-USA
When our society relies on an understanding of economics that did not predict, prevent, or mitigate the current economic crisis, and that, more importantly, does not effectively address climate change or resource depletion, it is time for a new and different approach to understanding the economy. That premise is the foundation of Energy and the Wealth of Nations, an important book by ecologist Charles Hall and economist Kent Klitgaard, who together are pioneering the new discipline of biophysical economics.