FROM THE ENTROPY LAW TO "FARFALA EFFECT" AND THEIR ECONOMIC PERCEPTION

Constanta Iacob and Ana Maria Cepoiu
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Constanta Iacob: University of Craiova Faculty of Economics and Business Administration
Ana Maria Cepoiu: College “Stefan Odobleja”

Annals of University of Craiova - Economic Sciences Series, 2012, vol. 2, issue 40, 23-30

Abstract: It is said that theories explain laws, and laws are facts of observation. At the first sight these two concepts reduced to axioms are perfectly logical and consistent, but the law is a valid creation only in an unit of time, starting with the laws of physics and finishing with the ones of economics who are no more than temporal realities. However, there are some laws of physics that have not lost their validity and have not become non-realities or factual realities because the universe has its own mechanisms of self-adjustment, self-organization. In other words, regardless of the chaos that created the universe, there was a natural and logical reorganization based on the laws of physics that have always existed. Therefore the laws of physics and economic laws were discovered and not invented. Some authors put an equal sign between the disorder (entropy) and chaos, others on the contrary are making differences between the two concepts, but both consider an unpredictable behavior, sensitive to change and conditionings which have became, in the most random situations, issues that we can easily see in the economic field. The laws of physics are the same for all observers, but the perception is different, something that explains human behavior that has lost sight of the need to ask about the possible consequences of the changes which brings them to its original state of nature, the fact that the report of it and the natural environment represents the basis of existence and the relation with the social environment determines quality of life. In this context we would like to submit to attention some aspects concerning the entropic nature and also the chaos theory found in economy.

Keywords: creation; disorder; chaos theory; the farfala effect; resources (search for similar items in EconPapers)
JEL-codes: B30 B40 D40 E22 F23 (search for similar items in EconPapers)
Date: 2012
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