Abstract
In the previous chapters I introduced the core concepts of economics, ecology and thermodynamics and drew conclusions as to the relevance of these concepts for the analysis of economy-environment interactions. Based on these conclusions, I present in this chapter a model of a single industry extracting a nonrenewable resource from a mine, and releasing waste materials into the environment. Additionally, the extraction process results in the dissipation of low-entropy energy. The model concentrates on thermodynamic implications for economically optimal extraction of a nonrenewable resource and is translated into a nonlinear dynamic computer simulation. The purpose of the computer simulation is to illustrate the theoretical findings.
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© 1993 Springer Science+Business Media Dordrecht
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Ruth, M. (1993). Thermodynamic Implications for Nonrenewable Resource Extraction with Endogenous Technical Change. In: Integrating Economics, Ecology and Thermodynamics. Ecology, Economy & Environment, vol 3. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-1899-8_9
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DOI: https://doi.org/10.1007/978-94-017-1899-8_9
Publisher Name: Springer, Dordrecht
Print ISBN: 978-90-481-4298-9
Online ISBN: 978-94-017-1899-8
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