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

Bennewitz, Jürgen, Energy, Entropy and Economy, Part I The Basic Laws (December 1, 2006). Available at SSRN: https://ssrn.com/abstract=969384 or http://dx.doi.org/10.2139/ssrn.969384

Jürgen Bennewitz (Contact Author)

Independent ( email )

Birkenweg 24
Heiligenhaus, 42579
Germany

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