The book is a concise introduction to an emerging field within economics. Drawing on numerous disciplines, including environmental science, environmental and ecological economics and optimal growth theory, sustainability remains a hazy and complex subject. The author set out with two objectives: one, to bring some order into the proliferating measures, models and management of sustainability; and two, to facilitate access to a complex inter-disciplinary subject area. The book points to practical ways of assessing and enhancing the long-term environmental and economic sustainability of our economies. The result is a fully international study that should bridge the gap between disciplines and prove to be an essential guide to anyone interested in one of the most important concepts in the social sciences.

This is the inaugural volume in a series of reviews on the theory, policy, and implementation of sustainability and sustainable development, with a focus on the economic, social, and environmental challenges facing the world today. This volume includes papers by leading international experts in the science of sustainability, including Rudolf de Groot, Richard Cowling, Bruce Hannon, R. Kerry Turner, Peter Nijkamp, Peter Söderbaum, Barry D. Solomon, and Pushpam Kumar. NOTE: Annals volumes are available for sale as individual books or as a journal. For information on institutional journal subscriptions, please visit www.blackwellpublishing.com/nyas. ACADEMY MEMBERS: Please contact the New York Academy of Sciences directly to place your order (www.nyas.org). Members of the New York Academy of Science receive full-text access to the Annals online and discounts on print volumes. Please visit www.nyas.org/MemberCenter/Join.aspx for more information about becoming a member.

A comprehensive blueprint for a new post-capitalist order—which values our collective future over immediate economic gains The fate of all economic systems is written in the energy flows they obtain from the natural world. Our collective humanity very much depends on nature—for joy, for comfort, and for sheer survival. In his prescient new book, The Physics of Capitalism, Erald Kolasi explores the deep ecological physics of human existence by developing a new theoretical framework for understanding the relationship between economic systems and the wider natural world. Nature is full of complex and dynamic systems that are constantly interacting with our societies. The collective physical interactions of the natural world guide and forge many fundamental features of human societies and civilizations. Humanity does not exist on a magical pedestal above the rest of reality; we are just one slice in a grand continuum of physical systems that interact, combine, and transform over time. We too belong to the natural world. And it’s this critical fact that controls the long-term fate of our economies and civilizations. Among all the living organisms that have called this blue marble home, humans are a very recent species. In that short period of time, we have managed to become one of the most dominant life forms in the history of the planet, creating powerful civilizations with elaborate cultures, large populations, and extensive trade networks. We have been nomads and farmers, scientists and lawyers, nurses and doctors, welders and blacksmiths. Our achievements are both astonishing and unprecedented, but they also carry great risks. Throughout history, economic growth has depended heavily on people converting more energy from their natural environments and concentrating the resulting energy flows towards the application of specific tasks. The economic and demographic growth of human civilization over the last ten thousand years has profoundly impacted natural ecosystems throughout the planet, triggering major instabilities across the biosphere that threaten to reverberate on civilization and to destabilize its long-term trajectory. Swamped with multiple ecological challenges of historic proportions, global civilization now stands at a critical tipping point that deserves closer scrutiny. If we are to have any hope of addressing the difficult challenges we face, then we must begin by understanding them and appreciating their complexity. And then, we must act. This book offers a comprehensive blueprint for our collective future, pointing the way to a new post-capitalist order that can provide long-term viability and stability for human civilization on a global scale.

In this updated edition of a groundbreaking text, concepts such as energy return on investment (EROI) provide powerful insights into the real balance sheets that drive our “petroleum economy.” Hall and Klitgaard explore the relation between energy and the wealth explosion of the 20th century, and the interaction of internal limits to growth found in the investment process and rising inequality with the biophysical limits posed by finite energy resources. The authors focus attention on the failure of markets to recognize or efficiently allocate diminishing resources, the economic consequences of peak oil, the high cost and relatively low EROI of finding and exploiting new oil fields, including the much ballyhooed shale plays and oil sands, and whether alternative energy technologies such as wind and solar power can meet the minimum EROI requirements needed to run society as we know it. For the past 150 years, economics has been treated as a social science in which economies are modeled as a circular flow of income between producers and consumers. In this “perpetual motion” of interactions between firms that produce and households that consume, little or no accounting is given of the flow of energy and materials from the environment and back again. In the standard economic model, energy and matter are completely recycled in these transactions, and economic activity is seemingly exempt from the Second Law of Thermodynamics. As we enter the second half of the age of oil, when energy supplies and the environmental impacts of energy production and consumption are likely to constrain economic growth, this exemption should be considered illusory at best. This book is an essential read for all scientists and economists who have recognized the urgent need for a more scientific, empirical, and unified approach to economics in an energy-constrained world, and serves as an ideal teaching text for the growing number of courses, such as the authors’ own, on the role of energy in society.

Economies are open systems embedded in an ecosystem with which they exchange matter and energy. Interactions among these systems are vital for each system's performance and are constrained by the laws of physics. This volume pays tribute to economy--environment interactions simultaneously from an economic, ecological and physical perspective. Integrating Economics, Ecology and Thermodynamics provides a first step in identifying and combining the principles of economics, ecology and thermodynamics on a fundamental level. Part I lays out the general context for the approach chosen. Part II familiarizes readers with core concepts of, and methods used in, the three disciplines of economics, ecology and thermodynamics. Part III assesses ways in which these disciplines can be integrated to provide an improved understanding of economy--environment interactions. Part IV illustrates the integration of the three disciplines with a dynamic model of a human community interacting with its environment. In Part V the volume closes with a brief summary and a set of conclusions on the relevance of integrated, interdisciplinary approaches to economy--environment interactions.

The world relies on very few crop and animal species for agriculture and to supply its food needs. In recent decades, there has been increased appreciation of the risk this implies for food security and quality, especially in times of environmental change. As a result, agricultural biodiversity has moved to the top of research and policy agendas. This Handbook presents a comprehensive overview of our current knowledge of agricultural biodiversity in a series of specially commissioned chapters. It draws on multiple disciplines including plant and animal genetics, ecology, crop and animal science, food studies and nutrition, as well as social science subjects which explore the socio-economic, cultural, institutional, legal and policy aspects of agricultural biodiversity. It focuses not only on the core requirements to deliver a sustainable agriculture and food supply, but also highlights the additional ecosystem services provided by a diverse and resilient agricultural landscape and farming practices. The book provides an indispensable reference textbook for a wide range of courses in agriculture, ecology, biodiversity conservation and environmental studies.

This is the second installment of this annual review series presents invited papers published in collaboration with the United States Society for Ecological Economics. This issue will include in-depth reviews of topics such as: ecological economics of land degradation; assessing the true costs of coal; institutional change and ecological economics; energy and economic growth; systems theory of sustainable exploitation of ecosystems; payments for environmental services; climate change and game theory; the economic value of ecosystem services in the Great Barrier Reef; and core issues in the economics of biodiversity conservation. NOTE: Annals volumes are available for sale as individual books or as a journal. For information on institutional journal subscriptions, please click here. ACADEMY MEMBERS: Please contact the New York Academy of Sciences directly to place your order (www.nyas.org). Members of the New York Academy of Science receive full-text access to the Annals online and discounts on print volumes. Please visit http://www.nyas.org/MemberCenter/Join.aspx for more information about becoming a member.

A solid, quantitative, practical introduction to a wide range of renewable energy systems in a completely updated, new edition The second edition of Renewable and Efficient Electric Power Systems provides a solid, quantitative, practical introduction to a wide range of renewable energy systems. For each topic, essential theoretical background is introduced, practical engineering considerations associated with designing systems and predicting their performance are provided, and methods for evaluating the economics of these systems are presented. While the book focuses on the fastest growing, most promising wind and solar technologies, new material on tidal and wave power, small-scale hydroelectric power, geothermal and biomass systems is introduced. Both supply-side and demand-side technologies are blended in the final chapter, which introduces the emerging smart grid. As the fraction of our power generated by renewable resources increases, the role of demand-side management in helping maintain grid balance is explored. Renewable energy systems have become mainstream technologies and are now, literally, big business. Throughout this edition, more depth has been provided on the financial analysis of large-scale conventional and renewable energy projects. While grid-connected systems dominate the market today, off-grid systems are beginning to have a significant impact on emerging economies where electricity is a scarce commodity. Considerable attention is paid to the economics of all of these systems. This edition has been completely rewritten, updated, and reorganized. New material has been presented both in the form of new topics as well as in greater depth in some areas. The section on the fundamentals of electric power has been enhanced, making this edition a much better bridge to the more advanced courses in power that are returning to many electrical engineering programs. This includes an introduction to phasor notation, more emphasis on reactive power as well as real power, more on power converter and inverter electronics, and more material on generator technologies. Realizing that many students, as well as professionals, in this increasingly important field may have modest electrical engineering backgrounds, early chapters develop the skills and knowledge necessary to understand these important topics without the need for supplementary materials. With numerous completely worked examples throughout, the book has been designed to encourage self-instruction. The book includes worked examples for virtually every topic that lends itself to quantitative analysis. Each chapter ends with a problem set that provides additional practice. This is an essential resource for a mixed audience of engineering and other technology-focused individuals.

The idea that nature provides services to people is one of the most powerful concepts to have emerged over the last two decades. It is shaping our understanding of the role that biodiverse ecosystems play in the environment and their benefits for humankind. As a result, there is a growing interest in operational and methodological issues surrounding ecosystem services amongst environmental managers, and many institutions are now developing teaching programmes to equip the next generation with the skills needed to apply the concepts more effectively. This handbook provides a comprehensive reference text on ecosystem services, integrating natural and social science (including economics). Collectively the chapters, written by the world's leading authorities, demonstrate the importance of biodiversity for people, policy and practice. They also show how the value of ecosystems to society can be expressed in monetary and non-monetary terms, so that the environment can be better taken into account in decision making. The significance of the ecosystem service paradigm is that it helps us redefine and better communicate the relationships between people and nature. It is shown how these are essential to resolving challenges such as sustainable development and poverty reduction, and the creation of a green economy in developing and developed world contexts.

The efficient use of natural resources is key to a sustainable economy, and yet the complexities of the physical aspects of resource efficiency are poorly understood. In this challenging book, the author proposes a major advance in our understanding of this topic by analysing resource efficiency and efficiency gains from the perspective of common pool resources, applying this idea particularly to water resources and its use in irrigated agriculture. The author proposes a novel concept of "the paracommons", through which the savings of increased resource efficiency can be viewed. In effect he asks; "who gets the gain of an efficiency gain?" By reusing, economising and avoiding losses, wastes and wastages, freed up resources are available for further use by four ‘destinations’; the same user, parties directly connected to that user, the wider economy or returned to the common pool. The paracommons is thus a commons of – and competition for – resources salvaged by changes to the efficiency of natural resource systems. The idea can be applied to a range of resources such as water, energy, forests and high-seas fisheries. Five issues are explored: the complexity of resource use efficiency; the uncertainty of efficiency interventions and outcomes; destinations of freed up losses, wastes and wastages; implications for resource conservation; and the interconnectedness of users and systems brought about by efficiency changes. The book shows how these ideas put efficiency on a par with other dimensions of resource governance and sustainability such as equity, justice, resilience and access.