The purpose of this study is to better understand the essential interdependencies between the world economy and the global ecosystem, including human populations. World production, product prices, wages, interest rates, exchange rates, employment, and spending are shown to be mutually determined over time with the growth rates of country-specific renewable resources, the generation of waste, human population growth, waste assimilation by the basic fungible resource, and the sanitation and other health and human services provided by the government sectors. Particular attention is paid to alternative central bank policies and their potential effects upon future mixes of resources in world production and upon the level and composition of that production. Materials balance holds with respect to all production and consumption. Cash flow constraints hold with respect to all economic transactions; in particular, the decisions to save and invest are directly linked to financial market decisions.
Author(s): Harland Wm. Whitmore
Edition: First Edition
Year: 2007
Language: English
Pages: 336
Cover......Page 1
Contents......Page 8
List of Figures......Page 10
List of Tables......Page 12
Acknowledgments......Page 14
1 Introduction......Page 16
2 The Global Ecosystem......Page 26
3 The Government Sectors......Page 38
4 The Household Sectors’ Initial Choices......Page 62
5 The Nonrenewable Resource Industry......Page 72
6 The Capital Goods Industry......Page 92
7 The Consumption Goods Industry......Page 112
8 The Renewable Resource Industries......Page 132
9 The Banking Sectors......Page 156
10 Summary of Production, Employment, Wages, and Prices......Page 182
11 Conventional and Green Measures of Income and Product......Page 194
12 Nonbank Sectors Revisited......Page 222
13 World’s Financial Markets......Page 258
14 Implications of the World’s Cash Flow Constraints......Page 280
15 End-of-Period Stocks......Page 292
16 Alternative Central Bank Policies......Page 304
17 Technological Change and Public Policies......Page 322
18 Summary and Conclusions......Page 326
Bibliography......Page 328
C......Page 330
L......Page 331
R......Page 332
W......Page 333
