The Entropy Law And The Economic Process
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The Entropy Law And The Economic Process
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Author : Nicholas Georgescu-Roegen
language : en
Publisher: Cambridge, Mass. : Harvard University Press
Release Date : 1971
The Entropy Law And The Economic Process written by Nicholas Georgescu-Roegen and has been published by Cambridge, Mass. : Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1971 with Business & Economics categories.
In the ultimate analysis man struggles for low entropy, and economic scarcity is the reflection of the Entropy Law, which is the most economic in nature of all natural laws. Thermodynamics itself is presented by the author as the physics of economic value and mans economic activity as analogous (though not identical) to that of the purposive sorting of the famous Maxwellian demon. Economic activity is in fact an extension and a complement of mans biological evolution. In it, man can use exosomatic organs, i.e., organs with which he is not endowed biologically but which have evolved through a process of mutation, selection, and diffusion similar to that of biological evolution. For wherever there is evolution, the author argues, there is the work of the Entropy Law with its irrevocable qualitative Change. This point leads the author to an extensive examination of the limitations of arithmomorphic models in all sciences. He argues that no complete description of reality, no philosophical argument (not even that of the ultrapositivists), no creative thought can dispense with dialectical concepts and reasoning, which he views somewhat differently from Hegel. The tight-knit excursus ends with an analysis of some general economic issues, from that of the analytical representation of a process to that of social conflict. The author argues that, because of the very nature of exosomatic evolution, the social conflict will last under any regime as long as there is a human society. -- Publisher's description.
Economics Entropy And The Environment
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Author : Thomas Randolph Beard
language : en
Publisher: Edward Elgar Publishing
Release Date : 1999
Economics Entropy And The Environment written by Thomas Randolph Beard and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Business & Economics categories.
Offers a critical review of the work of Nicholas Georgescu-Roegen in conventional economics, environmental economics, and methodology. Presents a brief biographical sketch, then reviews his methodology and evaluates his contributions to the field. Particular attention is paid to the role of thermodynamics in his economics, with an economist's primer on thermodynamics and description of the role thermodynamics plays in his work. A final chapter describes bioeconomics as a way to integrate many of his views. Beard teaches economics at Auburn University. Lozada teaches economics at the University of Utah. Annotation copyrighted by Book News, Inc., Portland, OR
Economics And Thermodynamics
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Author : Peter Burley
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-03-09
Economics And Thermodynamics written by Peter Burley and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-09 with Business & Economics categories.
Over the past two decades we have witnessed something of a revolution in the natural sciences as thermodynamic thinking evolved from an equilibrium, or 'classical', perspective, to a nonequilibrium, or 'self organisational' one. In this transition, thermodynamics has been applied in new ways and in new fields of inquiry. Chemical and biological (evolutionary) processes have been analysed, increasingly, in non equilibrium thermodynamical terms. Economics has, since the late 19th century, relied heavily upon metaphors and analogies derived from the natural sciences - mechanical analogies cast in terms of traditional Newtonian physics and expressed in terms of Cartesian logic have been especially popular. Thermodynamics, on the other hand, has been less popular, despite its early application in economics by Stanley Jevons, the father of modern notions of utility maximisation in neoclassical economics, and despite its promotion in economic contexts by Paul Samuelson, the author of the definitive treatise upon which post war neoclassical economic theory was based, namely, his Foundations of Economic Analysis. The general neglect of thermodynamic thinking in economics was brought to our attention by Nicholas Georgescu-Roegen in the late 1960s, by which time economic theory, evidenced in, for example, the Arrow Debreu general eqUilibrium system, had become so sophisticated that it could not be penetrated by thermodynamical ideas. To Georgescu Roegen, this presented something of a crisis in economics because neglect of thermodynamics led, in his view, to blindness amongst economists to an economy/environment problem in the global economy.
Energy And Economic Myths
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Author : Nicholas Georgescu-Roegen
language : en
Publisher: Elsevier
Release Date : 2014-05-18
Energy And Economic Myths written by Nicholas Georgescu-Roegen and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-18 with Business & Economics categories.
Energy and Economic Myths: Institutional and Analytical Economic Essays is a collection of materials that deal with various issues and concerns in economics. The title aims to clarify the misconception in economics. The first part of the text deals with the issues in natural resources and the economics of production. Next, the selection tackles the problems in institutional economics. Part III covers the epistemological and methodological concerns in economics. The title also talks about economic theories. The book will be of great interest to economists and readers who want to enhance their understanding of economic concepts.
Bioeconomics And Sustainability
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Author : Nicholas Georgescu-Roegen
language : en
Publisher: Edward Elgar Publishing
Release Date : 1999-01-01
Bioeconomics And Sustainability written by Nicholas Georgescu-Roegen and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-01-01 with Business & Economics categories.
Economists from around the world discuss Georgescu-Roegen's (1906-94) theories in a number of areas, but especially on environmental and energy economics. They address such topics as how long neoclassical economists can continue to ignore his contribu
The Second Law Of Economics
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Author : Reiner Kümmel
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-06-24
The Second Law Of Economics written by Reiner Kümmel and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-24 with Science categories.
Nothing happens in the world without energy conversion and entropy production. These fundamental natural laws are familiar to most of us when applied to the evolution of stars, biological processes, or the working of an internal combustion engine, but what about industrial economies and wealth production, or their constant companion, pollution? Does economics conform to the First and the Second Law of Thermodynamics? In this important book, Reiner Kümmel takes us on a fascinating tour of these laws and their influence on natural, technological, and social evolution. Analyzing economic growth in Germany, Japan, and the United States in light of technological constraints on capital, labor, and energy, Professor Kümmel upends conventional economic wisdom by showing that the productive power of energy far outweighs its small share of costs, while for labor just the opposite is true. Wealth creation by energy conversion is accompanied and limited by polluting emissions that are coupled to entropy production. These facts constitute the Second Law of Economics. They take on unprecedented importance in a world that is facing peak oil, debt-driven economic turmoil, and threats from pollution and climate change. They complement the First Law of Economics: Wealth is allocated on markets, and the legal framework determines the outcome. By applying the First and Second Law we understand the true origins of wealth production, the issues that imperil the goal of sustainable development, and the technological options that are compatible both with this goal and with natural laws. The critical role of energy and entropy in the productive sectors of the economy must be realized if we are to create a road map that avoids a Dark Age of shrinking natural resources, environmental degradation, and increasing social tensions.
The Entropy Law And The Economic Process In Retrospekt
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Author : Nicholas Georgescu-Roegen
language : de
Publisher:
Release Date : 1987
The Entropy Law And The Economic Process In Retrospekt written by Nicholas Georgescu-Roegen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987 with categories.
From Bioeconomics To Degrowth
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Author : Nicolas Georgescu-Roegen
language : en
Publisher: Taylor & Francis
Release Date : 2011-03-28
From Bioeconomics To Degrowth written by Nicolas Georgescu-Roegen and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-03-28 with Business & Economics categories.
Nicolae Georgescu-Roegen (1906-1994) is considered today as perhaps the chief founder of the transdisciplinary field today known as Ecological Economics, but that he defined himself as Bioeconomics. In his later years Georgescu-Roegen intended to write a book of this title that would systematize what he considered to be the most significant results of his work. This project intends to resume this project, publishing a collection of the most relevant Georgescu-Roegen essays on Bioeconomics, including previously unpublished papers.
The Second Law Of Economics
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Author : Reiner Kümmel
language : en
Publisher: Springer
Release Date : 2013-08-01
The Second Law Of Economics written by Reiner Kümmel and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-08-01 with Science categories.
Nothing happens in the world without energy conversion and entropy production. These fundamental natural laws are familiar to most of us when applied to the evolution of stars, biological processes, or the working of an internal combustion engine, but what about industrial economies and wealth production, or their constant companion, pollution? Does economics conform to the First and the Second Law of Thermodynamics? In this important book, Reiner Kümmel takes us on a fascinating tour of these laws and their influence on natural, technological, and social evolution. Analyzing economic growth in Germany, Japan, and the United States in light of technological constraints on capital, labor, and energy, Professor Kümmel upends conventional economic wisdom by showing that the productive power of energy far outweighs its small share of costs, while for labor just the opposite is true. Wealth creation by energy conversion is accompanied and limited by polluting emissions that are coupled to entropy production. These facts constitute the Second Law of Economics. They take on unprecedented importance in a world that is facing peak oil, debt-driven economic turmoil, and threats from pollution and climate change. They complement the First Law of Economics: Wealth is allocated on markets, and the legal framework determines the outcome. By applying the First and Second Law we understand the true origins of wealth production, the issues that imperil the goal of sustainable development, and the technological options that are compatible both with this goal and with natural laws. The critical role of energy and entropy in the productive sectors of the economy must be realized if we are to create a road map that avoids a Dark Age of shrinking natural resources, environmental degradation, and increasing social tensions.
The Physical Foundation Of Economics
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Author : Jing Chen
language : en
Publisher: World Scientific
Release Date : 2005
The Physical Foundation Of Economics written by Jing Chen and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Social Science categories.
All human activities, including mental activities, are governed by physical laws and are essentially thermodynamic processes. However, current economic theories are not established on these foundations. This pioneering book seeks to develop an analytical theory of economics on the foundation of thermodynamic laws. A unified understanding of economic and social phenomena is presented, an understanding that is much simpler than what mainstream economic theory has to offer. Its aim is to revolutionize thinking in economics and transform social sciences into an integral part of the physical and biological sciences.