Conservation of mass and instability in a dynamic economy-environment system

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Abstract

This paper considers a variant of the Neumann-Leontief-Sraffa general equilibrium models in the context of a jointly determined economy environment system subject to a conversation of mass condition. It shows that the conservation of mass contradicts the free disposal, free gifts, and non-innovation assumptions of such models; that an expanding economy will be associated with continuous disequilibrating change in the material transformations of both economy and environment; and that this change is uncontrollable through the price system.

Original languageEnglish (US)
Pages (from-to)199-211
Number of pages13
JournalJournal of Environmental Economics and Management
Volume13
Issue number3
DOIs
StatePublished - Sep 1986
Externally publishedYes

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ASJC Scopus subject areas

  • Economics and Econometrics
  • Management, Monitoring, Policy and Law

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