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Book review: Energy, complexity and wealth maximization

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  • Olcay, Gökçen Arkalı

Abstract

The book presents a holistic view via the windows of physics and economics to the future of the human race starting from the formation of the universe going through the evolution of the humankind throughout the ages. The author adroitly explains the role of energy as an enabler of evolution, technology and economic growth with an increasing level of complexity throughout the ages. The availability of natural wealth in forms of coal, oil, and natural gas were transformed into useful work incubating technologies and enabling economic growth. Many of the advances in economic growth occurred because of the creative destructions which enabled evolutionary innovations. However, the Earth is no longer in excess of such natural wealth. The mankind should use the knowledge to extract exergy from what is left in terms of natural wealth, solar energy or some other form of energy in the light of thermodynamics that is also neglected for so long in economics and other fields.

Suggested Citation

  • Olcay, Gökçen Arkalı, 2019. "Book review: Energy, complexity and wealth maximization," Technological Forecasting and Social Change, Elsevier, vol. 143(C), pages 353-355.
    • Handle: RePEc:eee:tefoso:v:143:y:2019:i:c:p:353-355
    DOI: 10.1016/j.techfore.2018.04.030
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    References listed on IDEAS

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    1. Smith, Adam, 1776. "An Inquiry into the Nature and Causes of the Wealth of Nations," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number smith1776.
    2. Malthus, Thomas Robert, 1798. "An Essay on the Principle of Population," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number malthus1798.
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