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Wealth, Virtual Wealth And Debt
''Wealth, Virtual Wealth and Debt'' is a 1926 book by the Nobel Prize–winning chemist Frederick Soddy on monetary policy and society and the role of energy in economic systems. Soddy criticized the focus on monetary flows in economics, arguing that real wealth was derived from the use of energy to transform materials into physical goods and services. Soddy’s economic writings were largely ignored in his time, but would later be applied to the development of ecological economics in the late 20th century.Eric Zencey"Mr. Soddy’s Ecological Economy" ''The New York Times'', Opinion Section, April 12, 2009. Real wealth and virtual wealth In this book Soddy points out the fundamental difference between real wealth (consumables such as buildings, equipment, energy, food) and virtual wealth, in the form of money and debt. Soddy contends that real wealth is subject to entropy and will rot, rust, wear out, or be consumed over time, while money and debt (as artificial accounting devi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Frederick Soddy
Frederick Soddy FRS (2 September 1877 – 22 September 1956) was an English radiochemist who explained, with Ernest Rutherford, that radioactivity is due to the transmutation of elements, now known to involve nuclear reactions. He also proved the existence of isotopes of certain radioactive elements. In 1921 he received the Nobel Prize in Chemistry "for his contributions to our knowledge of the chemistry of radioactive substances, and his investigations into the origin and nature of isotopes". Soddy was a polymath who mastered chemistry, nuclear physics, statistical mechanics, finance and economics. Biography Soddy was born at 6 Bolton Road, Eastbourne, England, the son of Benjamin Soddy, corn merchant, and his wife Hannah Green. He went to school at Eastbourne College, before going on to study at University College of Wales at Aberystwyth and at Merton College, Oxford, where he graduated in 1898 with first class honours in chemistry. He was a researcher at Oxford from 189 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Entropy
Entropy is a scientific concept, as well as a measurable physical property, that is most commonly associated with a state of disorder, randomness, or uncertainty. The term and the concept are used in diverse fields, from classical thermodynamics, where it was first recognized, to the microscopic description of nature in statistical physics, and to the principles of information theory. It has found far-ranging applications in chemistry and physics, in biological systems and their relation to life, in cosmology, economics, sociology, weather science, climate change, and information systems including the transmission of information in telecommunication. The thermodynamic concept was referred to by Scottish scientist and engineer William Rankine in 1850 with the names ''thermodynamic function'' and ''heat-potential''. In 1865, German physicist Rudolf Clausius, one of the leading founders of the field of thermodynamics, defined it as the quotient of an infinitesimal amount of hea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thermodynamics
Thermodynamics is a branch of physics that deals with heat, work, and temperature, and their relation to energy, entropy, and the physical properties of matter and radiation. The behavior of these quantities is governed by the four laws of thermodynamics which convey a quantitative description using measurable macroscopic physical quantities, but may be explained in terms of microscopic constituents by statistical mechanics. Thermodynamics applies to a wide variety of topics in science and engineering, especially physical chemistry, biochemistry, chemical engineering and mechanical engineering, but also in other complex fields such as meteorology. Historically, thermodynamics developed out of a desire to increase the efficiency of early steam engines, particularly through the work of French physicist Sadi Carnot (1824) who believed that engine efficiency was the key that could help France win the Napoleonic Wars. Scots-Irish physicist Lord Kelvin was the first to formulate a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adbusters
The Adbusters Media Foundation is a Canadian-based Nonprofit organization, not-for-profit, Environmentalism, pro-environment organization founded in 1989 by Kalle Lasn and Bill Schmalz in Vancouver, British Columbia. Adbusters describes itself as "a global network of artists, activists, writers, pranksters, students, educators and entrepreneurs who want to advance the new social activist movement of the information age." As anti-capitalist or opposed to capitalism, it publishes the reader-supported, advertising-free ''Adbusters'', an activist magazine devoted to challenging consumerism. The magazine has an international circulation peaking at 120,000 in the late 2000s with circulation of 60,000 in 2022. Past and present contributors to the magazine include Jonathan Barnbrook, Morris Berman, Brendan Connell, Simon Critchley, David Graeber, Michael Hardt, Chris Hedges, Bill McKibben, Jim Munroe, David Orrell, Douglas Rushkoff, Matt Taibbi, Slavoj Žižek, and others. Adbusters ha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Herman Daly
Herman Edward Daly (July 21, 1938 – October 28, 2022) was an American ecological and Georgist economist and professor at the School of Public Policy of University of Maryland, College Park in the United States, best known for his time as a senior economist at the World Bank from 1988 to 1994. In 1996, he was awarded the Right Livelihood Award for "defining a path of ecological economics that integrates the key elements of ethics, quality of life, environment and community." Life and work Dale was born in Houston, Texas in 1938. Before joining the World Bank, Daly was a research associate at Yale University, and Alumni Professor of Economics at Louisiana State University. Daly was Senior Economist in the Environment Department of the World Bank, where he helped to develop policy guidelines related to sustainable development. While there, he was engaged in environmental operations work in Latin America. He is closely associated with theories of a steady-state economy. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anneli Rufus
Anneli Rufus is an American journalist and author. Born in Los Angeles, California, and brought up in a Jewish household, she first went to college in Santa Barbara, then to the University of California, Berkeley. Rufus earned an English degree and became a journalist. She has written for many publications, including Salon.com, the ''San Francisco Chronicle'' and the ''Boston Globe ''The Boston Globe'' is an American daily newspaper founded and based in Boston, Massachusetts. The newspaper has won a total of 27 Pulitzer Prizes, and has a total circulation of close to 300,000 print and digital subscribers. ''The Boston Glob ...''. Rufus is the author of many books, including ''The Scavengers' Manifesto'' (2009), ''The Farewell Chronicles: How We Really Respond to Death'' (2005) and ''Party of One: The Loners' Manifesto'' (2002). Bibliography * ''Europe Off the Wall: A Guide to Unusual Sites'' (1988) (with Kristan Lawson) * ''America Off the Wall: The West Coast: A Guide to Un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bioeconomics (biophysical)
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] |
