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The Physical Foundation of Economics:An Analytical Thermodynamic Theory

Author

Listed:
  • Jing Chen

    (University of Northern British Columbia, Canada)

Abstract

All human activities, including mental activities, are governed by physical laws and are essentially thermodynamic processes. However, current economic theories are not established on these foundations. This pioneering book seeks to develop an analytical theory of economics on the foundation of thermodynamic laws. A unified understanding of economic and social phenomena is presented, an understanding that is much simpler than what mainstream economic theory has to offer. Its aim is to revolutionize thinking in economics and transform social sciences into an integral part of the physical and biological sciences.

Individual chapters are listed in the "Chapters" tab

Suggested Citation

  • Jing Chen, 2005. "The Physical Foundation of Economics:An Analytical Thermodynamic Theory," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 5819, August.
    • Handle: RePEc:wsi:wsbook:5819
    as

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    File URL: https://www.worldscientific.com/worldscibooks/10.1142/5819
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    Citations

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    Cited by:

    1. Longhitano, Davide, 2012. "La Valutazione dei Servizi Ecosistemici. Proposta per un Approccio Termoeconomico," 2012 First Congress, June 4-5, 2012, Trento, Italy 124123, Italian Association of Agricultural and Applied Economics (AIEAA).
    2. Tony C. Scott & Madhusudan Therani & Xing M. Wang, 2017. "Data Clustering with Quantum Mechanics," Mathematics, MDPI, vol. 5(1), pages 1-17, January.
    3. Jing Chen & James K. Galbraith, 2023. "An entropy theory of value with reflections on the Arrow–Debreu model," Review of Evolutionary Political Economy, Springer, vol. 4(2), pages 221-247, July.
    4. Marco Casazza & Francesco Gonella & Gengyuan Liu & Antonio Proto & Renato Passaro, 2021. "Physical Constraints on Global Social-Ecological Energy System," Energies, MDPI, vol. 14(23), pages 1-25, December.
    5. Cameli, Simone Amato, 2023. "A complexity economics framework for 21st-century industrial policy," Structural Change and Economic Dynamics, Elsevier, vol. 64(C), pages 168-178.
    6. Chen, Jing, 2018. "An entropy theory of value," Structural Change and Economic Dynamics, Elsevier, vol. 47(C), pages 73-81.
    7. Jing Chen, 2013. "Population, Migration, Living Standard and Social Pressure: A Modeling Approach from Thermodynamics," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 11(3), pages 345-349.
    8. Jing Chen, 2005. "Imperfect Market or Imperfect Theory: A Unified Analytical Theory of Production and Capital Structure of Firms," Finance 0509009, University Library of Munich, Germany.
    9. Jing Chen & James K. Galbraith, 2024. "Production: a biophysical and evolutionary theory," Review of Evolutionary Political Economy, Springer, vol. 5(1), pages 85-119, June.
    10. Vítor A. F. Costa, 2024. "Looking at Economics through the Eyes of Thermodynamics," Energies, MDPI, vol. 17(11), pages 1-41, May.

    Book Chapters

    The following chapters of this book are listed in IDEAS

    More about this item

    Keywords

    Physical Foundation; Economics; Analytical Theory; Entropy; Value; Information; Production and Competition; Human Mind; Resource; Trade;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General

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