THE PHYSICAL FOUNDATION OF ECONOMICS
An Analytical Thermodynamic Theory
by Jing Chen (University of Northern British Columbia, Canada)
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.
Contents:
- The Entropy Theory of Human Mind
- The Entropy Theory of Value
-
Production and Competition: An Analytical Thermodynamic Theory
- Natural Resources, Technology and Institutions: A Historical Perspective
- Migration, Trade, Education and Fertility: A Spatial Perspective
- From Modern Astronomy to Modern Finance: A New Theory of Finance
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Readership: Academics, graduates, undergraduates and general readers
who are interested in the fundamental problems in social sciences.
"The Physical Foundation of Economics is an interesting attempt to use the physics concept of entropy in economic sciences, analogous to its success as Shannon entropy in information science."
Professor Dietrich Stauffer
University of Cologne |
"Jing Chen presents us with a thermodynamic theory of economics which unifies the concepts of physical entropy, information, and economic value. The book is an exciting journey towards the point where economics, physics, and biology come together and provides a deep understanding of the fundamental interconnectedness between the socio-economic world and the biosystem."
Assistant Professor Raluca Iorgulescu Polimeni
Siena College, USA |
�This is an extremely interesting book that attempts to provide an entirely new foundation for economic theory ... it is a fascinating read that helps me (not an economist) make a little more sense out of the world.�
