Thermoeconomics: A Thermodynamic Approach to Economics Book

This trans-disciplinary book stems from peer-reviewed work the author has published in Energy Economics and the International Journal of Exergy, and working papers he has produced over a period of many years on the links between economics and thermodynamics. A wide range of topics is covered, including historical research, the gas laws, the distribution of income, the 1st and 2nd Laws of Thermodynamics applied to economics, economic processes and elasticity, entropy and utility, production processes, reaction kinetics, empirical monetary analysis of the UK and USA economies, interest rates, bond yield and spread, unemployment, entropy maximization principles and the cycle. Also included are empirical analyses of world energy resources and climate change as factors affecting economic output. The book concludes with a discussion of sustainability commensurate with prevailing constraints..Read More