Topology of Sustainability - Economics
Economics is the transaction of resources between human adaptations and interactions. It is the "engine" that runs these transactions. The value of these resources is based upon resource availability, and the basic and comfort needs of humans. The fundamental process for sustainable transactions are reducing, reusing and recycling resources. The table below shows the cost savings associated with these transactions:
The economic value of resources becomes distorted when the value of a resource is subsidized by taxation and do not take into account the environmental costs.
It is important to account for the full life cycle cost of the resource. Life cycle cost is the cost of extraction, use and disposal of a resource.
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