Simple Physical Model of Nature and Economy

  • Fraser Murison Smith


This chapter describes a simple scenario model consisting of a material exchange between an economy and nature. A concept of natural capacity and an index of economic sustainability are introduced. The index measures the probability of the model economy avoiding collapse within a certain period, such as 200 years. This probability is inversely related to the capacity of nature to support the economy, i.e., natural capacity. Through adjusting the ways in which the economy responds to changes in natural capacity, the scenarios explore the conditions under which collapse occurs or long-term stability is attained. From this analysis, a concept of material discipline emerges.


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Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Fraser Murison Smith
    • 1
  1. 1.San RafaelUSA

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