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Analogies in Environmental and Economic Systems: Growth Curve and Models

Author

Listed:
  • Maria ANDRONIE

    (Spiru Haret University, Str. Fabricii nr.46G, București, Postal code: 030045, Romania)

  • Laura MARIN

    (Spiru Haret University, Str. Fabricii nr.46G, București, Postal code: 030045, Romania)

Abstract

The transition from the actual economy to another, based on the principles of sustainable development is largely promoted through national and international programmes and policies. One aspect of the economy is the growth models, but these models are present both in economic systems and in environmental systems. For a faster and more efficient implementation of these new policies, an interdisciplinary understanding of concepts and processes from both systems is useful, so the purpose of this paper is an analogy between an economic growth model (the Solow-Swan model) and a growth curve from the environmental area, respectively, the bacterial growth curve. Comparing some mathematical and graphical aspects of the two systems, a series of similarities can be observed, and some indications regarding the perspectives and possibilities for establishing new economic growth models adapted to the principles of a circular economy can be made. An economic model able to adapt and change in order to maintain a balance between resources and residues is, from the perspective of this comparison, a model that can sustain long-term economic growth.

Suggested Citation

  • Maria ANDRONIE & Laura MARIN, 2017. "Analogies in Environmental and Economic Systems: Growth Curve and Models," International Conference on Economic Sciences and Business Administration, Spiru Haret University, vol. 4(1), pages 20-26, October.
    • Handle: RePEc:icb:wpaper:v:4:y:2017:i:1:20-26
    as

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    File URL: http://icesba.eu/RePEc/icb/wpaper/ICESBA2017_ANDRONIE_Marin_P20-26.pdf
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    References listed on IDEAS

    as
    1. Hashimzade, Nigar & Myles, Gareth & Black, John, 2017. "A Dictionary of Economics," OUP Catalogue, Oxford University Press, edition 5, number 9780198759430.
    2. Heshmati, Almas, 2015. "A Review of the Circular Economy and its Implementation," IZA Discussion Papers 9611, Institute of Labor Economics (IZA).
    3. Nicolae MOROIANU & Daniela MOROIANU, 2012. "Models of the Economic Growth and their Relevance," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(6(571)), pages 135-142, June.
    4. Hugh Trenchard & Matjaz Perc, 2016. "Equivalences in Biological and Economical Systems: Peloton Dynamics and the Rebound Effect," PLOS ONE, Public Library of Science, vol. 11(5), pages 1-9, May.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    growth models; Solow-Swan; circular economy; bacterial growth; Monod;
    All these keywords.

    JEL classification:

    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth

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