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Quantifying economic sustainability: Implications for free-enterprise theory, policy and practice

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  • Goerner, Sally J.
  • Lietaer, Bernard
  • Ulanowicz, Robert E.

Abstract

In a previous paper (Ulanowicz, Goerner, Lietaer, and Gomez, 2009), we combined thermodynamic, network, and information theoretic measures with research on real-life ecosystems to create a generalized, quantitative measure of sustainability for any complex, matter/energy flow system. The current paper explores how this metric and its related concepts can be used to provide a new narrative for long-term economic health and sustainability. Based on a system's ability to maintain a crucial balance between two equally essential, but complementary factors, resilience and efficiency, this generic explanation of the network structure needed to maintain long-term robustness provides the missing theoretical explanation for what constitutes healthy development and the mathematical means to differentiate it quantitatively from mere growth. Matching long-standing observations of sustainable vitality in natural ecosystems and living organisms, the result is a much clearer, more accurate understanding of the conditions needed for free-enterprise networks to produce the kind of sustainable vitality everyone desires, one which enhances and reliably maintains the health and well-being of all levels of global civilization as well as the planet.

Suggested Citation

  • Goerner, Sally J. & Lietaer, Bernard & Ulanowicz, Robert E., 2009. "Quantifying economic sustainability: Implications for free-enterprise theory, policy and practice," Ecological Economics, Elsevier, vol. 69(1), pages 76-81, November.
    • Handle: RePEc:eee:ecolec:v:69:y:2009:i:1:p:76-81
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    References listed on IDEAS

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    1. von Braun, Joachim & Swaminathan, Monkombu Sambasivan & Rosegrant, Mark W., 2004. "Agriculture, food security, nutrition and the Millenium Development Goals," Annual report essays 2004EssayEN, International Food Policy Research Institute (IFPRI).
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