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Quantifying economic sustainability: Implications for free-enterprise theory, policy and practice
- Source :
-
Ecological Economics . Nov2009, Vol. 69 Issue 1, p76-81. 6p. - Publication Year :
- 2009
-
Abstract
- In a previous paper (Ulanowicz, Goerner, Lietaer, and Gomez, 2009), we combined thermodynamic, network, and information theoretic measures with research on real-life ecosystems to create a generalized, quantitative measure of sustainability for any complex, matter/energy flow system. The current paper explores how this metric and its related concepts can be used to provide a new narrative for long-term economic health and sustainability. Based on a system's ability to maintain a crucial balance between two equally essential, but complementary factors, resilience and efficiency, this generic explanation of the network structure needed to maintain long-term robustness provides the missing theoretical explanation for what constitutes healthy development and the mathematical means to differentiate it quantitatively from mere growth. Matching long-standing observations of sustainable vitality in natural ecosystems and living organisms, the result is a much clearer, more accurate understanding of the conditions needed for free-enterprise networks to produce the kind of sustainable vitality everyone desires, one which enhances and reliably maintains the health and well-being of all levels of global civilization as well as the planet. [Copyright &y& Elsevier]
Details
- Language :
- English
- ISSN :
- 09218009
- Volume :
- 69
- Issue :
- 1
- Database :
- Academic Search Index
- Journal :
- Ecological Economics
- Publication Type :
- Academic Journal
- Accession number :
- 44417710
- Full Text :
- https://doi.org/10.1016/j.ecolecon.2009.07.018