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Thermodynamics and economics, overview

Author: Ayres, Robert U. INSEAD Area: Economics and Political Science In: Encyclopedia of energy - Cutler, Cleveland;Ayres, Robert U.;Costa - 2004 - Book In: Physics Today, vol. 37, November 1984 Language: EnglishDescription: p. 91-97.Type of document: INSEAD ChapterNote: Please ask us for this itemAbstract: The law of the conservation of energy and of the increase of entropy constrain the processes by which raw materials are transformed into consumable goods, and therefore have implications for the way economists models their processes.
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The law of the conservation of energy and of the increase of entropy constrain the processes by which raw materials are transformed into consumable goods, and therefore have implications for the way economists models their processes.

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