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Thermoeconomics
Thermoeconomics, also referred to as biophysical economics, is a school of heterodox economics that applies the laws of thermodynamics, laws of statistical mechanics to economic theory. Thermoeconomics can be thought of as the statistical physics of value theory, 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. Biophysics, 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"'' ''"Noth ... [...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 Brown University and completed a |
Entropy
Entropy is a scientific concept, most commonly associated with states 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. Entropy is central to the second law of thermodynamics, which states that the entropy of an isolated system left to spontaneous evolution cannot decrease with time. As a result, isolated systems evolve toward thermodynamic equilibrium, where the entropy is highest. A consequence of the second law of thermodynamics is that certain processes are irreversible. The thermodynami ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heterodox Economics
Heterodox economics is a broad, relative term referring to schools of economic thought which are not commonly perceived as belonging to mainstream economics. There is no absolute definition of what constitutes heterodox economic thought, as it is defined in contrast to the most prominent, influential or popular schools of thought in a given time and place.Dequench, David (2007) "Neoclassical, mainstream, orthodox, and heterodox economics", ''Journal of Post Keynesian Economics'', 30 (2), 279-30/ref> Groups typically classed as heterodox in current discourse include the Austrian school of economics, Austrian, Ecological economics, ecological, Marxian economics, Marxist-Historical school of economics, historical, Post-Keynesian economics, post-Keynesian, and modern monetary theory, modern monetary approaches.Frederic S. Lee, 2008. "heterodox economics," ''The New Palgrave Dictionary of Economics'', 2nd Edition, v. 4, pp. 2–65Abstract. Four frames of analysis have been highlight ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Open System (systems Theory)
An open system is a system that has external interactions. Such interactions can take the form of information, energy, or material transfers into or out of the system boundary, depending on the discipline which defines the concept. An open system is contrasted with the concept of an isolated system which exchanges neither energy, matter, nor information with its environment. An open system is also known as a flow system. The concept of an open system was formalized within a framework that enabled one to interrelate the theory of the organism, thermodynamics, and evolutionary theory. This concept was expanded upon with the advent of information theory and subsequently systems theory. Today the concept has its applications in the natural and social sciences. In the natural sciences an open system is one whose border is permeable to both energy and mass. By contrast, a closed system is permeable to energy but not to matter. The definition of an open system assumes that there a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ecodynamics
Ecodynamics is a part of applied economics. It covers knowledge on monetary value, the usage of money, and the money flow.Trond AndresenFundamental financial accumulation dynamics Department of Engineering Cybernetics, NT, Trondheim, Norway, August 2009. It deals with labor, and capital. See also * Thermoeconomics * System Dynamics System dynamics (SD) is an approach to understanding the nonlinear behaviour of complex systems over time using stocks, flows, internal feedback loops, table functions and time delays. Overview System dynamics is a methodology and mathematical ... External links * M. King Hubbert on thNature of Growth Testimony to Hearing on the National Energy Conservation Policy Act of 1974, Subcommittee on the Environment of the committee on Interior and Insular Affairs House of Representatives, June 6, 1974. * Herman E. DalyEconomics in a Full World Scientific American, September 2005, Vol. 293, Issue 3. System Dynamics Society Recommended reading * * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Econophysics
Econophysics is a non-orthodox (in economics) 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 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 econo ... [...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 (hydrology), 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 * Thermal current, a flow of heat through a medium * IBM Current, an early personal information management program * Google Currents ** Google Currents (news app), an app developed by Google that provided electronic access to full-length magazine articles between 2011 and 2013 ** Google Currents (social app), an app developed by Google for internal enterprise communication between 2019 and 2023 * Proba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balloon Graph Representing Quality EROI
A balloon is a flexible membrane bag that can be inflated with a gas, such as helium, hydrogen, nitrous oxide, oxygen, or air. For special purposes, 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 rubber, latex, polychloroprene, or a nylon fabric, and can come in many different colors. Some early balloons were made of dried animal 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 meteorology, medical treatment, military defense, or transportation. A balloon's properties, including its low density and low cost, have led to a wide range of applications. The rubber balloon was invented by Michael Faraday in 1824, during experiments with various gases. He invented them for use in the lab. Applications Play Decoration Balloons are used for decorating ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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, a Japanese dancer and actor * ''Peter'' (1934 film), a film directed by Henry Koster * ''Peter'' (2021 film), a Marathi language film * "Peter" (''Fringe'' episode), an episode of the television series ''Fringe'' * ''Peter'' (novel), a 1908 book by Francis Hopkinson Smith * "Peter" (short story), an 1892 short story by Willa Cather * ''Peter'' (album), a 1972 album by Peter Yarrow * ''Peter'', a 1993 EP by Canadian band Eric's Trip * "Peter", 2024 song by Taylor Swift from '' The Tortured Poets Department: The Anthology'' Animals * Peter (Lord's cat), cat at Lord's Cricket Ground in London * Peter (chief mouser), ... [...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 ''governme ... [...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 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 the change in the heritable characteristics of biological populations over successive generations. It occurs when evolutionary processes such as natural selection and genetic drift act on genetic variation, resulting in certain characteristics becoming more or less common within a population over successive generations. The process of evolution has given rise to biodiversity at every level of biological organisation. The scientific theory of evolution by natural selection was conceived independently by two British naturalists, Charles Darwin and Alfred Russel Wallace, in the mid-19th century as an explanation for why organisms are adapted to their physical and biological environments. The theory was first set out in detail in Darwin's book ''On the Origin of Species''. Evolution by natural selection is established by observable facts about living organisms: (1) more offspring are often produced than can possibly survive; (2) traits vary among individuals with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
