Energy, Entropy and Economy, Part I The Basic Laws
24 Pages Posted: 13 Mar 2007 Last revised: 13 Nov 2014
Date Written: December 1, 2006
Abstract
On a phenomenological and a quantitative basis it is possible to proof the validity of the First and Second Law of Thermodynamics in the Economy. On the basis if the First Law important conclusions can be drawn for the course of daily economic problems. The basic State Function of the Second Law, the Entropy of economical processes, can be defined by the equation ds = k b dq, where b (= Greek Beta) is a natural constant for all economic processes, k the Boltzmann-Constant and dq the Value Added.
Keywords: Energy transfer in Economic Processes, Entropy and Irreversibility of Economic Processes
JEL Classification: A12, B3, B4, C0, G0, P0
Suggested Citation: Suggested Citation