Long-run interactions between the economy and the natural
environment are studied from all points of view. First, the aims of
this overview are illustrated in Part I. Part II then explores and
develops the concept of evolution, in particular distinguishing
between evolution which does not involve the emergence of novelty,
and evolution where novelty does occur. In Part III three types of
time irreversibility are developed, and these concepts are used to
show how time has been treated in the natural sciences, also
typifying various schools of economic thought. Part IV is concerned
with the economic modelling of these concepts. It extends and
adapts neo-Austrian capital theory to provide a basis for the
modelling of long-run economy-environment interactions. A heuristic
simulation model is described, and its simulation results
discussed. Part V draws some lessons from the earlier discussion
and analysis. It also stresses the role and the importance of
interdisciplinary work for the understanding of relationships
between economic activity and the natural environment.
|Country of origin:
• John L.R. Proops
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