Industrial symbiosis can be defined as sharing of services, utility, and by-product resources among diverse industrial actors in order to add value, reduce costs and improve the environment. Industrial symbiosis is a subset of industrial ecology, with a particular focus on material and energy exchange. Industrial ecology is a relatively new field that is based on a natural paradigm, claiming that an industrial ecosystem may behave in a similar way to the natural ecosystem wherein everything gets recycled.
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“I am convinced that ... we have reestablished confidence. Wages should remain stable. A very large degree of industrial unemployment and suffering which would otherwise have occurred has been prevented.”
—Herbert Hoover (1874–1964)