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Energy in Physics and in Economy

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  • Katalin Martinas

    (Atomic Physics Department, Eötvös Loránd University, Budapest, Hungary)

Abstract

In this paper the energy concept used in economic activity is investigated. It is not a "useful" part of physical energy, but an economically defined quantity. To reach this conclusion we first give a summary of the classification of the different concepts - all bearing the name energy. There are at least six distinct concepts to be distinguished. Three of them are scientific concepts to be differentiated. The physical (conserved) energy belongs to the realm of the first law, the energy as the ability to perform (physical, chemical) work belongs to the second law, the economic (biological) capacity for actions belongs to the (Darwinian Law).

Suggested Citation

  • Katalin Martinas, 2005. "Energy in Physics and in Economy," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 3(2), pages 44-58.
    • Handle: RePEc:zna:indecs:v:3:y:2005:i:2:p:44-58
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    References listed on IDEAS

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    1. Lozada, Gabriel A., 2006. "Entropy, free energy, work, and other thermodynamic variables in economics," Ecological Economics, Elsevier, vol. 56(1), pages 71-78, January.
    2. Bénédicte Vidaillet & V. d'Estaintot & P. Abécassis, 2005. "Introduction," Post-Print hal-00287137, HAL.
    3. Gaveau, B. & Martinás, K. & Moreau, M. & Tóth, J., 2002. "Entropy, extropy and information potential in stochastic systems far from equilibrium," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 305(3), pages 445-466.
    4. Witt, Ulrich, 2005. "'Production' in nature and production in the economy--second thoughts about some basic economic concepts," Structural Change and Economic Dynamics, Elsevier, vol. 16(2), pages 165-179, June.
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