A discussion regarding thermodynamics and economics.
Written in 2006; 1,350 words; 4 sources; $ 53.95
Paper Summary:
This paper discusses the question of including thermodynamics in the study of economics. It is very important to include it when studying neo-classical economics and free-market activity because it alone seems capable of introducing consumption pattern analysis into the study of economics. Thermodynamics is important within ecological economics and within economics in general because the environment within which all economies function is anchored in a finite system that is constrained by its very nature and character.
From the Paper:
"Resources are limited and many are not reproducible in any type of practical natural sense that would allow even sustainable growth models to be applicable. Petroleum will eventually be completely depleted and the natural process of producing it is simply not a practical option that would result in sustainable consumption patterns. "
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