Economic system sustainability

The purpose of a quality system is to enable you to economically achieve, sustain, and improve quality. It is unlikely that you will be able to produce and sustain the required quality unless you organize yourselves to do so. Quality does not happen by chance -it has to be managed. No human endeavor has ever been successful without having been planned, organized, and controlled in some way. 

Schematic description of economic systems, following Figure 13.3 (a) Classical, (b) environmental, and (c) sustainable economic systems.

Figure 13.4b emphasizes the finite nature and strong irreversibility of an economic system. The stock of energy and resources will eventually run out and so will the absorptive capacity of the environment for waste. An obvious extension of Figure 13.4b, therefore, is the one represented by Figure 13.4c. Just like in nature, waste has to be recycled. In nature, there is no real waste. Every form of waste is a resource for a living system. This living system is very small and called a microbe. Microbes make sure that all matter recycles in nature. Man needs to assume this humble but valuable and important role of microbes in the economic system and make sure that the material cycles get closed. Therefore, energy (or rather work) is required. But obviously this work should not be supplied from a nonrenewable source, like fossil fuels, but rather from a renewable source like the sun. Figure 13.4c therefore seems to be characteristic for a sustainable economic system and agrees remarkably with the definition of sustainability from biological systems A...

The previous sections have pointed to the important role that solar energy will play in a sustainable society. Whether we talk of a living system, an industrial society, or an economic system, it seems that ultimately solar energy should drive it "The sun is our nuclear reactor, remote and safe" [3]. In that context, it makes much sense to pay attention to an inspiring and consciousness-raising monograph with the title Our Ecological Footprint [20,28]. 

The full-world hypothesis, combined with the desire to design sustainable economic systems, confronts ecological economists with three economic problems - scale, distribution, and allocation. The problems of scale and distribution have traditionally been ignored by economists. 

Understanding and managing engineering innovations as applied to complex systems, e.g., environmental, public health, economic, and sustainability... 

Costanza R (1993) Ecological and economic systems analysis order and chaos. In Barbier EB (ed) Economic and ecology new frontiers and sustainable development. Chapman and Hall, London, pp 27-45... 

Evaluation. The design options are checked with respect to their performance. Taking the wide range of criteria in the safety, health, onomics, enviromnent and t echnology (SHEET) aspects speciflc choices are made for economic performance, sustainability and technology. With respect to economics, we calculate the capital and operational costs of a process for its time horizon. We use exergy efficiency as a sustainability metric, while a systems response time is used to define the responsiveness of the process. 

A "Sustainable Society" in particular a "Sustainable Economy" are respectively societal and economic systems "which meet the needs of the present without compromising the ability of future generations to meet their own needs."[l]... 

Open economical system, which leads to economical growth and sustainable... 

To sustain Earth and its natural capital for future generations, economic systems must evolve in the future such that they provide adequate and satisfying standards of living while increasing well-being, productivity, wealth, and capital and at the same time reducing waste, consumption of... 

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