Edited by Matthias Ruth and Brynhildur Davidsdottir
5. The economic dynamics of stocks and ﬂows Brynhildur Davidsdottir and Matthias Ruth INTRODUCTION Industrial ecosystems absorb large quantities of energy and materials, which are transformed by production processes into useful outﬂows (output) and waste. This transformation has been called industrial metabolism (Ayres 1989; Ayres and Simonis 1994). The industrial ecology community has been productive in quantifying industrial metabolism of energy and materials at various scales ranging from particular production processes (Brunner and Rechberger 2004), to speciﬁc industries or a system of industries (Brunner and Rechberger 2004; Schenk et al. 2004), to regions and cities (Kennedy et al. 2007) up to assessments of entire biogeochemical cycles (Graedel et al. 2004; Graedel and Ellis 2005). The basic principle of any energy and material ﬂow analyses (E/MFA) is based on the law of conservation of matter. This law indicates that the sum of inﬂows must equal the sum of outﬂows, yet allowing for potential timedelays in various reservoirs (Brunner and Rechberger 2004). In the past E/MFA were mostly static or comparative static, providing snapshots of energy and material ﬂows, and the accumulation in associated reservoirs at particular points in time. Recently the ﬁeld has begun moving towards dynamic E/MFA (see for example Chapter 4 in this volume). In dynamic E/MFA inﬂows, outﬂows and accumulation in various reservoirs are linked in time as a function of quantitative assessments of service life of capital. The information contained in static and dynamic energy and material ﬂow analyses certainly is...
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