Characteristics of Bioeconomics

Bioeconomics is the new economy of nature based on bioeconomic capitalism utilising biological resources in a frugal and efficient way: efficiency alone will not solve the problem of resource depletion.

  • The bioeconomic model has as its foundation the human enterprise as thedependent variable in the economy-nature equation and the biospheric activity as the invariable (constant) and not vice versa as it is formulated now

  • Bioeconomics promotes the principle that nature must not be viewed only as a source of food or as a cesspit for waste but also as a source of ideas which can provide us with useful and harmless innovations to carry on with our socioeconomic enterprise. In other words, not only what can be extractedfrom nature but also what can be learned from it.

  • Bioeconomics is based on rejection of methodological individualism; emphasising society but not forgetting the relationship of individuals in the society.

  • Bioeconomics is a value-laden science vs. orthodox neoclassical economics which is free of values and acts independent of the sphere of life and science of life (biology): Importance of the Bioeconomic Theory of Value.

  • Superiority of the anthropological premise of H. bioeconomicus to that of H. economicus: aggressive arrogance of the competitive economic individualism compensated by humility of the cooperative bioeconomic individual

  • Empowering people in a free democratic society to decide and make a choice between industrial capitalism and bioeconomic capitalism based respectively on competing neoclassical and bioeconomic theories: bioeconomic capitalism will eventually subsume industrial capitalism the same way this latter has subsumed agricultural capitalism.

  • Importance of the Bioeconomic Rationality: does not dispose of the concept of rationality; re-introduces it in a holistic light in order to include the affective non-economic components of the socioeconomic activity. It is changing the I-rationality to We-rationality: importance of social good and social capital for the good of society.

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