Steady-state economyA steady-state economy is an economy made up of a constant stock of physical wealth (capital) and a constant population size. In effect, such an economy does not grow in the course of time. The term usually refers to the national economy of a particular country, but it is also applicable to the economic system of a city, a region, or the entire world. Early in the history of economic thought, classical economist Adam Smith of the 18th century developed the concept of a stationary state of an economy: Smith believed that any national economy in the world would sooner or later settle in a final state of stationarity.
Input–output modelIn economics, an input–output model is a quantitative economic model that represents the interdependencies between different sectors of a national economy or different regional economies. Wassily Leontief (1906–1999) is credited with developing this type of analysis and earned the Nobel Prize in Economics for his development of this model. Francois Quesnay had developed a cruder version of this technique called Tableau économique, and Léon Walras's work Elements of Pure Economics on general equilibrium theory also was a forerunner and made a generalization of Leontief's seminal concept.
ResourceResource refers to all the materials available in our environment which are technologically accessible, economically feasible and culturally sustainable and help us to satisfy our needs and wants. Resources can broadly be classified upon their availability — they are classified into renewable and non-renewable resources. They can also be classified as actual and potential on the basis of the level of development and use, on the basis of origin they can be classified as biotic and abiotic, and on the basis of their distribution, as ubiquitous and localised (private, community-owned, national and international resources).
Rebound effect (conservation)In conservation and energy economics, the rebound effect (or take-back effect) is the reduction in expected gains from new technologies that increase the efficiency of resource use, because of behavioral or other systemic responses. These responses diminish the beneficial effects of the new technology or other measures taken. A definition of the rebound effect is provided by Thiesen et al. (2008) as, “the rebound effect deals with the fact that improvements in efficiency often lead to cost reductions that provide the possibility to buy more of the improved product or other products or services.
ScrapScrap consists of recyclable materials, usually metals, left over from product manufacturing and consumption, such as parts of vehicles, building supplies, and surplus materials. Unlike waste, scrap has monetary value, especially recovered metals, and non-metallic materials are also recovered for recycling. Once collected, the materials are sorted into types — typically metal scrap will be crushed, shredded, and sorted using mechanical processes.
Watershed managementWatershed management is the study of the relevant characteristics of a watershed aimed at the sustainable distribution of its resources and the process of creating and implementing plans, programs and projects to sustain and enhance watershed functions that affect the plant, animal, and human communities within the watershed boundary. Features of a watershed that agencies seek to manage to include water supply, water quality, drainage, stormwater runoff, water rights and the overall planning and utilization of watersheds.
Industrial symbiosisIndustrial symbiosis a subset of industrial ecology. It describes how a network of diverse organizations can foster eco-innovation and long-term culture change, create and share mutually profitable transactions—and improve business and technical processes. Although geographic proximity is often associated with industrial symbiosis, it is neither necessary nor sufficient—nor is a singular focus on physical resource exchange. Strategic planning is required to optimize the synergies of co-location.
Payment for ecosystem servicesPayments for ecosystem services (PES), also known as payments for environmental services (or benefits), are incentives offered to farmers or landowners in exchange for managing their land to provide some sort of ecological service. They have been defined as "a transparent system for the additional provision of environmental services through conditional payments to voluntary providers". These programmes promote the conservation of natural resources in the marketplace.
Ecological engineeringEcological engineering uses ecology and engineering to predict, design, construct or restore, and manage ecosystems that integrate "human society with its natural environment for the benefit of both". Ecological engineering emerged as a new idea in the early 1960s, but its definition has taken several decades to refine, its implementation is still undergoing adjustment, and its broader recognition as a new paradigm is relatively recent.
Deep ecologyDeep ecology is an environmental philosophy that promotes the inherent worth of all living beings regardless of their instrumental utility to human needs, and the restructuring of modern human societies in accordance with such ideas. Deep ecology argues that the natural world is a complex of relationships in which the existence of organisms is dependent on the existence of others within ecosystems. It argues that non-vital human interference with or destruction of the natural world poses a threat therefore not only to humans but to all organisms constituting the natural order.
