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Biophysical Economics
Thermoeconomics, also referred to as biophysical economics, is a school of heterodox economics that applies the laws of statistical mechanics to economic theory. Thermoeconomics can be thought of as the statistical physics of economic value and is a subfield of econophysics. It is the study of the ways and means by which human societies procure and use energy and other biological and physical resources to produce, distribute, consume and exchange goods and services, while generating various types of waste and environmental impacts. Biophysical economics builds on both social sciences and natural sciences to overcome some of the most fundamental limitations and blind spots of conventional economics. It makes it possible to understand some key requirements and framework conditions for economic growth, as well as related constraints and boundaries. Thermodynamics ''"Rien ne se perd, rien ne se crée, tout se transforme"'' ''"Nothing is lost, nothing is created, everything is tr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heterodox Economics
Heterodox economics is any economic thought or theory that contrasts with orthodox schools of economic thought, or that may be beyond neoclassical economics.Frederic S. Lee, 2008. "heterodox economics," ''The New Palgrave Dictionary of Economics'', 2nd Edition, v. 4, pp. 2–65 Abstract. These include institutional, evolutionary, feminist, social, post-Keynesian (not to be confused with New Keynesian), ecological, Austrian, complexity, Marxian, socialist, and anarchist economics. Economics may be called ''orthodox'' or ''conventional'' economics by its critics.C. Barry, 1998. ''Political-economy: A comparative approach''. Westport, CT: Praeger. Alternatively, mainstream economics deals with the "rationality–individualism–equilibrium nexus" and heterodox economics is more "radical" in dealing with the "institutions–history–social structure nexus". A 2008 review documented several prominent groups of heterodox economists since at least the 1990s as working together with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Class Structure
A social class is a grouping of people into a set of hierarchical social categories, the most common being the upper, middle and lower classes. Membership in a social class can for example be dependent on education, wealth, occupation, income, and belonging to a particular subculture or social network. "Class" is a subject of analysis for sociologists, political scientists, anthropologists and social historians. The term has a wide range of sometimes conflicting meanings, and there is no broad consensus on a definition of "class". Some people argue that due to social mobility, class boundaries do not exist. In common parlance, the term "social class" is usually synonymous with "socio-economic class", defined as "people having the same social, economic, cultural, political or educational status", e.g., "the working class"; "an emerging professional class". However, academics distinguish social class from socioeconomic status, using the former to refer to one's relatively stabl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Econophysics
Econophysics is a Heterodox economics, heterodox interdisciplinary research field, applying theories and methods originally developed by physicists in order to solve problems in economics, usually those including uncertainty or stochastic processes and Chaos theory, nonlinear dynamics. Some of its application to the study of financial markets has also been termed statistical finance referring to its roots in statistical physics. Econophysics is closely related to social physics. History Physicists' interest in the social sciences is not new (see e.g.,); Daniel Bernoulli, as an example, was the originator of utility-based preferences. One of the founders of neoclassical economic theory, former Yale University Professor of Economics Irving Fisher, was originally trained under the renowned Yale physicist, Josiah Willard Gibbs. Likewise, Jan Tinbergen, who won the first Nobel Memorial Prize in Economic Sciences in 1969 for having developed and applied dynamic models for the analysis of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Current U
Currents, Current or The Current may refer to: Science and technology * Current (fluid), the flow of a liquid or a gas ** Air current, a flow of air ** Ocean current, a current in the ocean *** Rip current, a kind of water current ** Current (stream), currents in rivers and streams ** Convection current, flow caused by unstable density variation due to temperature differences * Current (mathematics), geometrical current in differential topology * Conserved current, a field associated to a symmetry in field theory * Electric current, a flow of electric charge through a medium * Probability current, in quantum mechanics * IBM Current, an early personal information management program Arts and entertainment Music * ''Current'' (album), a 1982 album by Heatwave * ''Currents'' (Eisley album) * ''Currents'' (Tame Impala album) * "The Current" (song), by the Blue Man Group * "Currents", a song by Dashboard Confessional from ''Dusk and Summer'', 2006 * "Currents", a song by Drake from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peak Oil
Peak oil is the hypothetical point in time when the maximum rate of global oil production is reached, after which it is argued that production will begin an irreversible decline. It is related to the distinct concept of oil depletion; while global petroleum reserves are finite, the limiting factor is not whether the oil exists but whether it can be extracted economically at a given price. A secular decline in oil extraction could be caused both by depletion of accessible reserves and by reductions in demand that reduce the price relative to the cost of extraction, as might be induced to reduce carbon emissions. Numerous predictions of the timing of peak oil have been made over the past century before being falsified by subsequent growth in the rate of petroleum extraction.David White, "The unmined supply of petroleum in the United States," ''Transactions of the Society of Automotive Engineers'', 1919, v.14, part 1, p.227.Daniel Yergin“There will be oil,”Wall Street Jou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balloon Graph Representing Quality EROI
A balloon is a flexible bag that can be inflated with a gas, such as helium, hydrogen, nitrous oxide Nitrous oxide (dinitrogen oxide or dinitrogen monoxide), commonly known as laughing gas, nitrous, or nos, is a chemical compound, an oxide of nitrogen with the formula . At room temperature, it is a colourless non-flammable gas, and has a ..., oxygen, and Atmosphere of Earth, air. For special tasks, balloons can be filled with smoke, liquid water, granular media (e.g. sand, flour or rice), or light sources. Modern day balloons are made from materials such as Natural rubber, rubber, latex, Neoprene, polychloroprene, or a nylon fabric, and can come in many different colors. Some early balloons were made of dried animal urinary bladder, bladders, such as the pig bladder. Some balloons are used for decorative purposes or entertaining purposes, while others are used for practical purposes such as Weather balloon, meteorology, Angioplasty, medical treatment, Barrage balloo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peter Corning
Peter Andrew Corning (born 1935) is an American biologist, consultant, and complex systems scientist, Director of the Institute for the Study of Complex Systems, in Seattle, Washington. He is known especially for his work on the causal role of synergy in evolution.Institute for the Study of Complex Systems . Retrieved 6 June 2008. Biography Peter Corning was born in in 1935. He received his undergraduate BA from |
Peter A
Peter may refer to: People * List of people named Peter, a list of people and fictional characters with the given name * Peter (given name) ** Saint Peter (died 60s), apostle of Jesus, leader of the early Christian Church * Peter (surname), a surname (including a list of people with the name) Culture * Peter (actor) (born 1952), stage name Shinnosuke Ikehata, Japanese dancer and actor * Peter (album), ''Peter'' (album), a 1993 EP by Canadian band Eric's Trip * Peter (1934 film), ''Peter'' (1934 film), a 1934 film directed by Henry Koster *Peter (2021 film), ''Peter'' (2021 film), Marathi language film * Peter (Fringe episode), "Peter" (''Fringe'' episode), an episode of the television series ''Fringe'' * Peter (novel), ''Peter'' (novel), a 1908 book by Francis Hopkinson Smith * Peter (short story), "Peter" (short story), an 1892 short story by Willa Cather Animals * Peter, the Lord's cat, cat at Lord's Cricket Ground in London * Peter (chief mouser), Chief Mouser between 1929 a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Efficiency
In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts: * Allocative or Pareto efficiency: any changes made to assist one person would harm another. * Productive efficiency: no additional output of one good can be obtained without decreasing the output of another good, and production proceeds at the lowest possible average total cost. These definitions are not equivalent: a market or other economic system may be allocatively but not productively efficient, or productively but not allocatively efficient. There are also other definitions and measures. All characterizations of economic efficiency are encompassed by the more general engineering concept that a system is efficient or optimal when it maximizes desired outputs (such as utility) given available inputs. Standards of thought There are two main standards of thought on economic efficiency, which respectively emphasize the distortions created by ''governments'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Productivity
Productivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time. The most common example is the (aggregate) labour productivity measure, one example of which is GDP per worker. There are many different definitions of productivity (including those that are not defined as ratios of output to input) and the choice among them depends on the purpose of the productivity measurement and/or data availability. The key source of difference between various productivity measures is also usually related (directly or indirectly) to how the outputs and the inputs are aggregated to obtain such a ratio-type measure of productivity. Productivity is a crucial factor in the production performance of firms and nations. Increasing national productivi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Biological Evolution
Evolution is change in the heritable characteristics of biological populations over successive generations. These characteristics are the expressions of genes, which are passed on from parent to offspring during reproduction. Variation tends to exist within any given population as a result of genetic mutation and recombination. Evolution occurs when evolutionary processes such as natural selection (including sexual selection) and genetic drift act on this variation, resulting in certain characteristics becoming more common or more rare within a population. The evolutionary pressures that determine whether a characteristic is common or rare within a population constantly change, resulting in a change in heritable characteristics arising over successive generations. It is this process of evolution that has given rise to biodiversity at every level of biological organisation, including the levels of species, individual organisms, and molecules. The theory of evolution by n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Return On Investment
In energy economics and ecological energetics, energy return on investment (EROI), also sometimes called energy returned on energy invested (ERoEI), is the ratio of the amount of usable energy (the ''exergy'') delivered from a particular energy resource to the amount of exergy used to obtain that energy resource. Arithmetically the EROI can be defined as: : EROI = \frac. When the EROI of a source of energy is less than or equal to one, that energy source becomes a net "energy sink", and can no longer be used as a source of energy. A related measure, called energy stored on energy invested (ESOEI), is used to analyse storage systems. To be considered viable as a prominent fuel or energy source a fuel or energy must have an EROI ratio of at least 3:1. History The energy analysis field of study is credited with being popularized by Charles A. S. Hall, a Systems ecology and biophysical economics professor at the State University of New York. Hall applied the biological methodo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
