Early Twentieth-Century Heterodox Monetary Thought and the Law of Entropy

Mario Seccareccia ()

Working Papers from University of Ottawa, Department of Economics

Abstract: The purpose of this paper is to study the link between an important development in the physical sciences, the discovery of the law of entropy, and its impact on the evolution of heterodox monetary theory early this century. Based on the recognition that, unlike the physical world, the monetary system appears to escape the effects of entropy, writers such as Soddy and Gesell developed particular theories and policy views that took this asymmetry into consideration.

Keywords: MONEY; MONETARY POLICY; ECONOMIC THOUGHT (search for similar items in EconPapers)
JEL-codes: B20 B29 E40 E50 E52 (search for similar items in EconPapers)
Pages: 21 pages
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:ott:wpaper:9602e

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