Thermodynamics and the Economic Process

John Bryant

Working Papers from Economic Consultancy, 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.

Keywords: Thermodynamics; economics; entropy; energy; exergy; peak oil; gas; coal; climate change (search for similar items in EconPapers)
Pages: 32 pages
Date: 2008-12
New Economics Papers: this item is included in nep-ene, nep-env and nep-hpe
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
http://www.vocat.co.uk/TEN62008.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:voc:wpaper:ten62008

Access Statistics for this paper

More papers in Working Papers from Economic Consultancy, Vocat International
Bibliographic data for series maintained by John Bryant ().