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Entropy, Water and Resources - An Essay in Natural Sciences-Consistent Economics (Hardcover, 2010)
Loot Price: R2,918
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Entropy, Water and Resources - An Essay in Natural Sciences-Consistent Economics (Hardcover, 2010)
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This book lies at the intersection of natural sciences, economics,
and water en- neering and is in line with the long tradition of
environmental economics at the University of Heidelberg. In the
1970s, the Neo-Austrian Capital Theory was developed using the
fundamental laws of thermodynamics as a common language between the
natural and social sciences. Niemes (1981) integrated the dynamic
and irreversibility characteristics of the natural environment into
the Neo-Austrian c- ital theory. Faber et al. (1983, 1987, 1995)
then extended this interdisciplinary approach further to create a
comprehensive, dynamic, environmental resource model. Over the last
3 decades, the theoretical foundations of environmental economics
have been modi ed and there have been an impressive variety of
applications. This book aims to reduce the gaps between economic
theory, natural sciences, and engineering practice. One of the
reasons these gaps exist is because economic assumptions are used
to construct dynamic environmental and resource models, which are
not consistent with the fundamental laws of the natural sciences.
Another reason for the gap might be the distance between academic
theory and real world situations. Based on an extended
thermodynamic approach, the authors explain which economic
assumptions are acceptable for constructing a dynamic model that is
consistent with the natural sciences. In particular, the special
role of water in the production and reproduction activities will be
considered as an integral component.
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