Throughput Economics
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Description
Michael Haupt:
“Throughput Economics: Economic activity organized around the conversion of natural resources into goods, capital, and waste at increasing speed and scale. Throughput Economics built industrial civilization, modern medicine, global communications, and the material infrastructure on which every living person depends. For most of its history it operated on the steep ascending portion of a growth curve. The structural logic is extract, produce, discard, and grow. A throughput system that has overshot the carrying capacity of its substrate no longer produces net gains; it consumes the base on which its earlier gains depended.”