What Can Georgescu-Roegen Tell Us Today? On Reproduction, Production, and Sustainability in Peasant Economy Modelling

This is the authors' abstract. We don't add key points for this paper.

There is a challenging debate on better ways of linking food production to reproduction of biological resources in agriculture. Currently, food production is mostly considered to be a part of agri-business which uses to profit maximization. This can result in resource depletion and industrial farming working against sustainability. However, peasant economies goals are broader than profit maximization, including reproduction of nature. We use this notion for a revision of objectives. The hypothesis introduced here is as follows: reproduction and production (as goals) are to be connected by joint accounting. The issue is addressed through an approach of energy accounting and through the application of a shadow price analysis. This paper explores how one can apply programming techniques to derive behavioural equations based on energy spending and shadow prices. It is shown how conditional behavioural equations can be readjusted and linked in a system analysis. The adjustment is done in a quasi-market mode, i.e. offered shadow price equivalents are