What is Bioeconomics

Bioeconomics as Economics of the Third Way

The following are some of my thoughts on this topic, which is in the process of development.

  • Bioeconomics incarnates the thesis that provides an alternative for the competitive capitalism destroying the biological capital, the human capitaland the environment too. This alternative is The Economics of the Third Way placing bioeconomics between the old economy (before the Industrial Revolution) and the new ( global ) economy

  • Bioeconomic business activity is the projection of the science of bioeconomics and the culture of synthesis. This type of activity provides for a type of socioeconomic enterprise, which promotes solutions for problems produced bythe old, and the new economy: Old economy has, and is, destroying the biological capital.New economy has, and is, destroying the biological capital and in addition thehuman capital too.How does bioeconomics propose to prevent these destructions?

    • by preventing the creation of monetary capital at the expense of biological capital and human capital ( cheap labour, child labour, inhuman work conditions).

    • by promoting a socioeconomic enterprise based on:

      • socioeconomic democracy and egalitarian values.

      • production-consumption according to humanity’s basic needsand not the conspicuous consumption and sumptuous lifestyle of a minority as now.

      • a type of socioeconomic activity cognizant of biological, environmental and ethical imperatives. In other words, promoting an enterprise which would enhance a realequilibrium and not the artificial supply-demand equilibrium 
        of the neoclassical economics.

      • Bioeconomic activity is the closest approximation of the human socioeconomic enterprise to the economy of naturebecause it has the biological support functions incorporated in its theoretical foundation : mimicking nature’s biological processes of conservation, regeneration and recycling and as importantly for allowing the biological temporalities to run their course and not to be interfered with.

      • The fact is that our socioeconomic activity and our existence has become monetised rather than remaining biologised as it once was. This has meant that our equilibrium with nature has been broken and our coevolution with it has been interrupted.
        Of course this does not mean going back to the caves but also should not mean placing all our bets on monetary value and short-term gains..

      • The fall of the Soviet empire and the demise of socialism with its pretensions to an egalitarian economy has meant that no longer are we faced with the dualistic model of capitalist economy vs. socialist economy but between two modelsof capitalism:

        • The Anglo-Saxon model (destructive capitalism through savage competition.

        • The Rest. But : Is there The Rest ?
          No, there is none. Bioeconomics is the rest and is proposed as the only alternative.

      • The human socioeconomic system, especially since the Industrial Revolution, has been dominated by two tendencies:

        • The Exponential Growth Model: exponentialpopulation growth requiring exponential economic growth based on the exponential utilisation of biological resources.

        • The Comparative Advantage Model: developed industrial countries importing cheap biological resources especially fossil fuels from underdeveloped countries and exporting luxury items at exorbitant prices to them, This type of trade would be o.k. if undeveloped countries were paid the real price (value) for their resources. However, these models are facing a challenge which is of the psychological nature brought about by technology: How to overcome the old mentality of paying, and receiving,more money for doing extra work with the new mentality of paying, and receiving, more money for doing less work. This is due to the political imperative of having continuous economic growth by encouraging maximum production and consumption in order to have full employment ( 40 hours to 35 hours.)
          This means that in time there will be less need for the conventional type of work. This is where a type of socioeconomic activity based on the bioeconomic principles comes into its own; namely Economics of the Third Way
          This is the bioeconomic business activity, which is an integrating matrix encompassing bothconventional as well as unconventional type of work and whose lapidary is a model based oncooperation-ompetition, solidarity and trust and both quantity and quality in contrast to the neoclassical capitalist market economy based onlyon competition , quantity and lack of trust .

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