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Entropy, Substitution and Sustainable Economic Growth

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  • Yanying Chen
  • Chunying Li

Abstract

In the debate over sustainable economic growth, two critical issues are elasticity of substitution and technical change. Due to entropy increasing law in MEI system, the elasticity of substitution between any two resources must decline to zero and the efficiency improvement of resources from technical change is also limited. Therefore, substitution and technical change can not sustain economic growth forever.

Suggested Citation

  • Yanying Chen & Chunying Li, 2011. "Entropy, Substitution and Sustainable Economic Growth," Research in World Economy, Research in World Economy, Sciedu Press, vol. 2(2), pages 66-70, October.
    • Handle: RePEc:jfr:rwe111:v:2:y:2011:i:2:p:66-70
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    References listed on IDEAS

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    1. Smulders, Sjak & de Nooij, Michiel, 2003. "The impact of energy conservation on technology and economic growth," Resource and Energy Economics, Elsevier, vol. 25(1), pages 59-79, February.
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    Cited by:

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    2. Ian Thomas & Kathryn Hegarty & Stuart Whitman & Val Macgregor, 2012. "Professional Associations," Journal of Education for Sustainable Development, , vol. 6(1), pages 121-136, March.
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    4. Chen, Lujie & Zhao, Xiande & Tang, Ou & Price, Lydia & Zhang, Shanshan & Zhu, Wenwen, 2017. "Supply chain collaboration for sustainability: A literature review and future research agenda," International Journal of Production Economics, Elsevier, vol. 194(C), pages 73-87.
    5. Dayana Jimenez & Isabel B. Franco & Tahlia Smith, 2021. "A Review of Corporate Purpose: An Approach to Actioning the Sustainable Development Goals (SDGs)," Sustainability, MDPI, vol. 13(7), pages 1-21, April.
    6. Michael G. Luchs & Minu Kumar, 2017. "“Yes, but this Other One Looks Better/Works Better”: How do Consumers Respond to Trade-offs Between Sustainability and Other Valued Attributes?," Journal of Business Ethics, Springer, vol. 140(3), pages 567-584, February.
    7. Fioravante Philip L., 2021. "A New Sustainability Model – A Four Essential Quadrants Framework," Economics and Culture, Sciendo, vol. 18(1), pages 113-124, June.
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    9. Charney S. Akala & Taryn Neuhaus & Indrani O' Leary-Govender, 2022. "A Systematic Review of Sustainable Investment Approaches," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 14(12), pages 1-72, December.
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    11. Bryan McIntosh & Bruce Sheppy & Juan David Zuliani, 2017. "The emperors clothes - corporate social responsibility creating shared value and sustainability," International Journal of Business Performance Management, Inderscience Enterprises Ltd, vol. 18(3), pages 307-326.
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    13. Prošková Anna, 2015. "Embracing Sustainable Development Is An Ethical Decision," CRIS - Bulletin of the Centre for Research and Interdisciplinary Study, Sciendo, vol. 2015(1), pages 61-65, January.
    14. Svarca Arlind, 2015. "Sustainable Development Is In Everybody’s Interest," CRIS - Bulletin of the Centre for Research and Interdisciplinary Study, Sciendo, vol. 2015(1), pages 47-51, January.
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