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Reconciling resource economics and ecological economics: the economics of sustainability and resilience

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  • Beard, Rodney

Abstract

Cross disciplinary dialogue between economics and ecology has within economics centered on the two subdisciplines of bioeconomics and ecological economics. This division in economics re ects the division in ecology between population and sys- tems ecologists. Recent developments in ecology are aimed at a more integrated approach to ecologic al research. One example of such an approach is that of models based on thermodynamic reaction networks. By applying the \Law of Mass Action" to biochemical descriptions of ecological networks, it is possible to reformulate eco- logical systems models as population dynamic models, which can then be embedded within a bioeconomic model framework. Analysis of bioeconomic models far from thermodynamic equilibrium is then possible from within either a steady-state or ergodic framework. The Glansdorff-Prigogine or other related stability criteria from non-equilibrium thermodynamics may then be applied to the study of bioeconomic systems.

Suggested Citation

  • Beard, Rodney, 1995. "Reconciling resource economics and ecological economics: the economics of sustainability and resilience," MPRA Paper 11443, University Library of Munich, Germany, revised 06 Nov 2008.
    • Handle: RePEc:pra:mprapa:11443
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    References listed on IDEAS

    as
    1. Norgaard, Richard B., 1989. "The case for methodological pluralism," Ecological Economics, Elsevier, vol. 1(1), pages 37-57, February.
    2. Common, Mick & Perrings, Charles, 1992. "Towards an ecological economics of sustainability," Ecological Economics, Elsevier, vol. 6(1), pages 7-34, July.
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    Cited by:

    1. Paunić, Alida, 2016. "Brazil, Preservation of Forest and Biodiversity," MPRA Paper 71462, University Library of Munich, Germany.

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    More about this item

    Keywords

    Ecological economics; bioeconomic modelling; resource economics;
    All these keywords.

    JEL classification:

    • B49 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Other
    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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