Capital and Time in Ecological Economies: Neo-Austrian Modelling

This ground-breaking book focuses on neo-Austrian capital theory and its application to the modelling of long-run economy-environment interactions. The book begins by presenting an overview of the modelling approach and offers an historical survey of capital theory and its development. The authors then provide a detailed introduction to the neo-Austrian modelling technique and extend it to include time horizons and growth models. The model is then applied to environmental issues such as green national accounts, resource rents and climate change to show how the neo-Austrian approach gives fresh and illuminating insights. An empirical application to the iron and steel industry is also presented. Capital and Time in Ecological Economics will be of interest to ecological and environmental economists, economic capital theorists and all those following developments in the neo-Austrian approach to economics.