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Phase Diagram for Roegenian Economics

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  • Constantin Udriste
  • Massimiliano Ferrara
  • Ionel Tevy
  • Dorel Zugravescu
  • Florin Munteanu

Abstract

We recall the similarities between the concepts and techniques of Thermodynamics and Roegenian Economics. The Phase Diagram for a Roegenian economic system highlights a triple point and a critical point, with related explanations. These ideas can be used to improve our knowledge and understanding of the nature of development and evolution of Roegenian economic systems.

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  • Constantin Udriste & Massimiliano Ferrara & Ionel Tevy & Dorel Zugravescu & Florin Munteanu, 2018. "Phase Diagram for Roegenian Economics," Papers 1812.07959, arXiv.org.
    • Handle: RePEc:arx:papers:1812.07959
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    References listed on IDEAS

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    1. C. Udrişte & M. Ferrara & D. Zugrăvescu & F. Munteanu, 2012. "Controllability of a Nonholonomic Macroeconomic System," Journal of Optimization Theory and Applications, Springer, vol. 154(3), pages 1036-1054, September.
    2. Walter Isard & Merton J. Peck, 1954. "Location Theory and International and Interregional Trade Theory," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 68(1), pages 97-114.
    3. Walter Isard, 1954. "Location Theory and Trade Theory: Short-Run Analysis," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 68(2), pages 305-320.
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