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Thermodynamics and the Economic Process

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Author Info

  • John Bryant

    ()
    (Vocat International)

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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Bibliographic Info

Paper provided by Economic Consultancy, Vocat International in its series Working Papers with number ten62008.

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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

Related research

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

This paper has been announced in the following NEP Reports:

References

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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.:
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  1. Christophe Kamps, 2005. "New Estimates of Government Net Capital Stocks for 22 OECD Countries 1960-2001," Public Economics 0506015, EconWPA.
  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.
  3. John Bryant, 2007. "A Thermodynamic Theory of Economics," Working Papers tefprv2007, Economic Consultancy, Vocat International.
  4. Sousa, Tania & Domingos, Tiago, 2006. "Is neoclassical microeconomics formally valid? An approach based on an analogy with equilibrium thermodynamics," Ecological Economics, Elsevier, vol. 58(1), pages 160-169, June.
  5. Bryant, J., 1982. "A thermodynamic approach to economics," Energy Economics, Elsevier, vol. 4(1), pages 36-50, January.
  6. Patterson, Murray, 1998. "Commensuration and theories of value in ecological economics," Ecological Economics, Elsevier, vol. 25(1), pages 105-126, April.
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Citations

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Cited by:
  1. John Bryant, 2012. "Thermoeconomics, A Thermodynamic Approach to Economics, Third Edition, Chapter 7 Investment and Economic Entropy," Working Papers tech72012, Economic Consultancy, Vocat International.
  2. John Bryant, 2012. "Thermoeconomics, A Thermodynamic Approach to Economics, Third Edition, Chapter 5 Money," Working Papers tech52012, Economic Consultancy, Vocat International.
  3. John Bryant, 2012. "Thermoeconomics, A Thermodynamic Approach to Economics, Third Edition, Chapter 9 Thermoeconomics and Sustainability," Working Papers tech92012, Economic Consultancy, Vocat International.
  4. John Bryant, 2012. "Thermoeconomics, A Thermodynamic Approach to Economics, Third Edition, Chapter 6 Labour and Unemployment," Working Papers tech62012, Economic Consultancy, Vocat International.
  5. John Bryant, 2012. "Thermoeconomics, A Thermodynamic Approach to Economics, Third Edition, Chapter 2 Stock and Flow Processes," Working Papers tech22012, Economic Consultancy, Vocat International.
  6. John Bryant, 2012. "Thermoeconomics, A Thermodynamic Approach to Economics, Third Edition, Chapter 8 Energy Resources and the Economy," Working Papers tech82012, Economic Consultancy, Vocat International.
  7. John Bryant, 2012. "Thermoeconomics, A Thermodynamic Approach to Economics, Third Edition, Chapter 3 Thermodynamic Principles," Working Papers tech32012, Economic Consultancy, Vocat International.
  8. John Bryant, 2012. "Thermoeconomics, A Thermodynamic Approach to Economics, Third Edition, Chapter 1 Introduction," Working Papers tech12012, Economic Consultancy, Vocat International.
  9. John Bryant, 2012. "Thermoeconomics, A Thermodynamic Approach to Economics, Third Edition, Chapter 4 Production and Entropy Processes," Working Papers tech42012, Economic Consultancy, Vocat International.

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