Humanity's true problem is not economic but 'bio-economic'

Humanity's true problem is not economic but 'bio-economic' wherein economic processes lead into entropic flows of energy and matter which were fundamental bioeconomic factors that need to be considered when looking at human presence within a finite biosphere.

The concept of 'bioeconomy' revolves around a technology transition, especially biotechnology, which uses bio-resources. 

Bioeconomy is also envisaged to have broader social-economic implications to achieve the goals of sustainable development.

It is important to understand that while biomass is a renewable resource at the local level, it is not an unlimited resource and for several ecological processes, bio resources are also not substitutable. At the moment, a narrow industrial and rent-seeking perspective dominates the bioeconomy agenda.

-Nicholas Georgescu-Roegen