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Thermodynamics and economics: Towards exergy-based indicators of sustainable development

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  • Sylvie Ferrari
  • Stéphane Genoud
  • Jean-Baptiste Lesourd

Abstract

The main purpose of this paper is to define indicators of sustainable development which take into account the economic constraints imposed by the laws of thermodynamics. Firstly, a survey of some essential work about the relationships between economics and thermodynamics is proposed. Secondly, the exergy concept is introduced as a tool which describes irreversibility in production processes. Finally, an indicator of sustainable development which aims at taking into account energy savings at the level of some macroeconomic aggregate, is provided. This indicator is, among other things, based on is exergy efficicency. It is also applied to heat production, on the basis of a case study.

Suggested Citation

  • Sylvie Ferrari & Stéphane Genoud & Jean-Baptiste Lesourd, 2001. "Thermodynamics and economics: Towards exergy-based indicators of sustainable development," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 137(III), pages 319-336, September.
    • Handle: RePEc:ses:arsjes:2001-iii-7
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    References listed on IDEAS

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    4. Jean-Baptiste Lesourd & Yvon Gousty, 1981. "Bases économiques et thermodynamiques des techniques de comptabilité de l'énergie," Revue d'Économie Industrielle, Programme National Persée, vol. 15(1), pages 44-59.
    5. Lesourd, Jean-Baptiste, 1985. "Energy and resources as production factors in process industries," Energy Economics, Elsevier, vol. 7(3), pages 138-144, July.
    6. Perrings, Charles, 1986. "Conservation of mass and instability in a dynamic economy-environment system," Journal of Environmental Economics and Management, Elsevier, vol. 13(3), pages 199-211, September.
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    Cited by:

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    2. Mariano Torras, 2008. "The Subjectivity Inherent in Objective Measures of Well-Being," Journal of Happiness Studies, Springer, vol. 9(4), pages 475-487, December.

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