Optimal economic growth and environmental quality

Jorge Barrientos Marin ()

No 17, Grupo Microeconomía Aplicada from Universidad de Antioquia, Departamento de Economía

Abstract: The present debate on the problem of natural resources exhaustion and contamination levels generated by economic activity has gone beyond the field of economic growth. This work intends to use the Ramsey model (1928), and evaluate the behavior of relevant variables in a society, when they are included in a social mechanism preferably pollution as a stock of wastes from goods and services production. Resides, thermodynamic laws applied to energy and materials are used to elaborate a definition of pollution, so that it can be included in the equation of capital accumulation of the economy.

Keywords: Optimum control; stationary state; pollution; thermodynamics; entropy. (search for similar items in EconPapers)
JEL-codes: O13 O40 Q01 Q10 (search for similar items in EconPapers)
Pages: 11
Date: 2000
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