Journal Article10.1086/259412
On Economics as a Life Science
TL;DR: In this article, the authors bring together some of the more salient similarities between biology and economics and argue that, far from being superficial, these analogies are profoundly rooted in the fact that the ultimate subject matter of biology is one, viz., the life process.
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Abstract: The purpose of this essay is to bring together some of the more salient similarities between biology and economics and to argue that, far from being superficial, these analogies are profoundly rooted in the fact that the ultimate subject matter of biology and economics is one, viz., the life process. Most of biology concentrates on the " within skin " life process, the exception being ecology, which focuses on the "outside skin" life process (Bates, 1960, pp. 12-13). Economics is the part of ecology which studies the outside-skin life process insofar as it is dominated by commodities and their interrelations. In what follows the traditional economic (outside skin) and the traditional biological (within skin) views of the total life process will be considered, both in their steady-state aspect and in their evolutionary aspect. Finally an approach to a more general "general equilibrium" model will be suggested by considering the human economy from an ecological perspective.
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References
What is Life
TL;DR: The author begs to renounce the noblesse, if any, and to be the freed of the ensuing obligation to write on any topic of which he is not a life, master, for the present purpose.
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