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Capital and Time in Ecological Economics: Neo-Austrian Modelling

By: Malte Faber, Stefan Speck, John Proops and Frank Jost

306 pages, Figs, tabs

Edward Elgar

Hardback | Jun 1999 | #101308 | ISBN: 1858986443
Availability: Usually dispatched within 6 days Details
NHBS Price: £87.00 $106/€98 approx

About this book

Faber (economics, U. of Heidelberg, Germany), Proops, and Speck (both environmental social sciences, Keele U., UK) wrote this book for people interested in long-term economy-environment interaction, who already have some familiarity with economic theory and mathematics. They discuss neo-Austrian capital theory and its application to the modeling of long-term collaboration on research in ecological economics. After a history of the theory (including its detailed technical aspects), the authors then relate it to environmental issues including climate change and pollution. The iron and steel industries are studied as case examples.


Part 1 Introduction and history: the nature of the approach; historical background to neo-Austrian capital theory. Part 2 The new-Austrian approach: neo-Austrian capital theory - the 3-sector, 2-period model; extending the time horizon. Part 3 Extensions to the neo-Austrian approach: the innovation of techniques and the time-horizon; a comparison between neoclassical and neo-Austrian growth models. Part 4 Introducing the environment into the neo-Austrian model: national accounting, time and the environment; natural resource rents and economic dynamics; climate change and economic development, Frank Jost. Part 5 Further neo-Austrian environmental models: a neo-Austrian model with pollution and resources; introducing recycling into the neo-Austrian model; the iron and steel industry - a neo-austrian interpretation.

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