environment as an asset Flashcards
environment as an asset
unique asset providing a composite of services such as: life support, economic support, and aesthetic services
closed system
no inputs received from outside the system and no outputs transferred outside the system
open system
imports and exports matter or energy
what type of system is the economic/environmental system?
open - receive energy from the sun
first law of thermodynamics
energy and matter cannot be created or destroyed but can be transformed
if we view the system as closed for resources, matter flowing from the environment has to accumulate either in the economic system or return to the environment as waste
second law of thermodynamics
entropy increases
consumption of energy is irreversible
a closed system will eventually use up all of its energy
both this law and the first law imply there is a limit to growth
entropy
amount of energy not available for work
anthropocentric
human centered
