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Thermodynamics and the Economic Process

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Author Info
John Bryant () (Vocat International)

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Abstract

This paper develops further a model of the economic process, first set out as part of a paper by the author in 2007, concerning the application of thermodynamic laws to economics. The paper sets out relationships between economic output and capital, labour, resource and waste stocks, with specific reference to energy, and is backed up analysis of data of world energy resources and climate change. The paper conculdes that both energy resource availability and climate change will have significant, limiting effects on the forward path of world economic developoment.

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File URL: http://www.vocat.co.uk/TEN62008.pdf
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Publisher Info
Paper provided by Economic Consultancy, Vocat International in its series Working Papers with number ten62008.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 32 pages
Date of creation: Dec 2008
Date of revision:
Handle: RePEc:voc:wpaper:ten62008

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Web page: http://www.vocat.co.uk

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Related research
Keywords: Thermodynamics; economics; entropy; energy; exergy; peak oil; gas; coal; climate change;

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This paper has been announced in the following NEP Reports: References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. John Bryant, 2007. "A Thermodynamic Theory of Economics," Working Papers tefprv2007, Economic Consultancy, Vocat International. [Downloadable!]
  2. Graham M Turner, 2008. "A Comparison of the Limits to Growth with Thirty Years of Reality," Socio-Economics and the Environment in Discussion (SEED) Working Paper Series 2008-09, CSIRO Sustainable Ecosystems. [Downloadable!]
  3. Christophe Kamps, 2005. "New Estimates of Government Net Capital Stocks for 22 OECD Countries 1960-2001," Public Economics 0506015, EconWPA. [Downloadable!]
    Other versions:
  4. John Bryant, 1982. "A Thermodynamic Approach to Economics," Working Papers te1982, Economic Consultancy, Vocat International. [Downloadable!]
    Other versions:
  5. Patterson, Murray, 1998. "Commensuration and theories of value in ecological economics," Ecological Economics, Elsevier, vol. 25(1), pages 105-126, April. [Downloadable!] (restricted)
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This page was last updated on 2009-11-8.

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