This book is concerned with the long-run interactions between the economy and the natural environment. Part II explores and develops the concept of evolution, in particular distinguishing between evolution which does not involve the emergence of novelty, and evolution where novelty does occur....

This book analyzes environmental protection and resource use in a comprehensive framework where not only economic but also natural scientific aspects are taken into consideration. The special features of the book are (i) that the authors utilize a natural scientific variable, entropy, to...

I: Austrian Capital Theory and the von Neumann-Model -- 1. Introduction -- 2. The Austrian Theory of Interest -- 3. The von Neumann-Model and its Relations to Austrian Capital and Interest Theory -- II: Modern Austrian Capital Theory -- 4. A Two-Period Two-Sector Neo-Austrian Model -- 5. A...

Summary of the Papers -- 1. On the Development of Austrian Capital Theory -- 2. Relationships between Modern Austrian and Sraffa’s Capital Theory -- 3. Austrians Versus Austrians I: A Subjectivist View of Interest -- 4. Austrians Versus Austrians II: Functionalist Versus Essentialist Theories...

Long run aspects of environmental protection and of the use of resources areanalyzed within a planning model. To this end fundamental concepts of thermodynamics are explained in a simple manner. The relationships between entropy, energy necessary for the extraction of a resource and the...

Long-run interactions between the economy and the natural environment are studied from all points of view. First, the aims of this overview are illustrated in Part I. Part II then explores and develops the concept of evolution, in particular distinguishing between evolution which does not...