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Integrating Economics, Ecology and Thermodynamics : Ecology, Economy & Environment, Vol 3 - Matthias Ruth

Integrating Economics, Ecology and Thermodynamics

Ecology, Economy & Environment, Vol 3

Hardcover Published: 31st July 1993
ISBN: 9780792323778
Number Of Pages: 252

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Economies are open systems embedded in an ecosystem with which they exchange matter and energy. Interactions among these systems are vital for each system's performance and are constrained by the laws of physics. This volume pays tribute to economy--environment interactions simultaneously from an economic, ecological and physical perspective.
Integrating Economics, Ecology and Thermodynamics provides a first step in identifying and combining the principles of economics, ecology and thermodynamics on a fundamental level. Part I lays out the general context for the approach chosen. Part II familiarizes readers with core concepts of, and methods used in, the three disciplines of economics, ecology and thermodynamics. Part III assesses ways in which these disciplines can be integrated to provide an improved understanding of economy--environment interactions. Part IV illustrates the integration of the three disciplines with a dynamic model of a human community interacting with its environment. In Part V the volume closes with a brief summary and a set of conclusions on the relevance of integrated, interdisciplinary approaches to economy--environment interactions.

Introductionp. 1
Economics, Ecology and Thermodynamicsp. 3
The Relevance of Economy-Environment Interactions for Economic Systemsp. 3
Towards a Consistent Representation of Economy-Environment Interactionsp. 5
Economic System, Ecosystem, and Thermodynamicsp. 9
Organization of the Studyp. 11
Core Concepts in Economics, Ecology and Thermodynamicsp. 15
Core Concepts in Neoclassical Economicsp. 17
A Delineation of Economic Activitiesp. 17
Opportunity Costs, Substitution, and Time Preferencep. 19
Economic Decisions and Timep. 20
Discount Rate and Resource Usep. 24
Dynamic Economic Models of Nonrenewable Resource Usep. 27
Dynamic Economic Models of Renewable Resource Usep. 31
Core Concepts in Ecologyp. 35
Basic Characteristics of Ecosystemsp. 35
Changing Components of Ecosystemsp. 38
Evolutionary Processesp. 43
Core Concepts in Thermodynamicsp. 48
Thermodynamic Systems Analysisp. 48
First Law Analysisp. 51
Second Law Analysisp. 53
Entropy and Informationp. 56
Integrating the Core Concepts of Economics, Ecology and Thermodynamicsp. 61
Integrating Core Concepts of Thermodynamics into Economicsp. 63
From Analogies to the Physical Functioning of Economic Processesp. 63
The Laws of Thermodynamics in Economic Modelsp. 65
Thermodynamics, Resource Use, and Technical Changep. 70
Ecology and Thermodynamicsp. 76
Ecosystems and Ecosystem Components as Thermodynamic Systemsp. 76
Entropy, Evolution, and Growthp. 79
Implications of the Ecology-Thermodynamics Interface for the Economy as an Ecosystem Componentp. 82
Economics and Ecologyp. 92
The Economics-Ecology Interfacep. 92
Economic Principles in Ecologyp. 93
Economy-Environment Interactions and Evolutionary Theories of Economic Changep. 97
Economics, Ecology and Thermodynamicsp. 111
Treating Economy-Environment Interactions in Accordance with the Core Concepts of Economics, Ecology and Thermodynamicsp. 111
Information, Knowledge and Technologyp. 114
System Boundaries and Reference Environmentp. 120
An Anthropocentric Approach to Economy-Environment Interactionsp. 123
Nonlinear Dynamic Simulation of Natural Resource Use: Thermodynamic Limits and Endogenous Technical Changep. 127
Thermodynamic Implications for Nonrenewable Resource Extraction with Endogenous Technical Changep. 129
A Production Function for Nonrenewable Resource Extraction with Thermodynamic Limitsp. 130
Endogenous Technical Change in the Mining Sectorp. 137
Optimal Resource Extraction with Endogenous Technical Changep. 142
Simulation of Optimal Time Pathsp. 150
Sensitivity Analysisp. 155
A Comprehensive Model of Economy-Environment Interactionsp. 164
System Components of the Model of Economy-Environment Interactionsp. 168
Nonlinear Dynamic Optimization for a Multi-Sector Economy with Endogenous Technical Change and Thermodynamic Constraintsp. 177
Nonlinear Dynamic Simulationp. 186
Summary and Conclusionsp. 199
Methodology and Findingsp. 201
The Methodological Background of the Studyp. 201
The Models of Optimal Natural Resource Usep. 206
Appendix A: Glossaryp. 211
Appendix B: Nonlinear Dynamic Simulation Program for the Nonrenewable Resource Modelp. 214
Appendix C: Initial Conditions and Parameter Values for the Simulation of the comprehensive Model of Chapter 10p. 219
Referencesp. 221
Indexp. 248
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9780792323778
ISBN-10: 0792323777
Series: Ecology, Economy & Environment, Vol 3
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 252
Published: 31st July 1993
Publisher: Springer
Country of Publication: NL
Dimensions (cm): 25.4 x 17.15  x 1.91
Weight (kg): 0.64