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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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