Economics and Finance

   

Use Thermodynamic Laws to Describe Macroeconomics

Authors: Wanchung Hu

There is a great analogy between thermodynamics and economics. Here, I will use the laws of thermodynamics to describe the laws of macroeconomics. The first law of thermodynamics explains the conservation of energy. Thus, the internal demand and external trade will contribute to citizens’ income. The second law of thermodynamics says that entropy will always be enlarged. Thus, developed nations will have larger entropy compared to developing or non-developing nations. The third law of thermodynamics also reaches because there is no perfect monopoly.

Comments: 2 Pages.

Download: PDF

Submission history

[v1] 2014-08-21 04:22:02
[v2] 2014-08-22 01:33:58

Unique-IP document downloads: 123 times

Vixra.org is a pre-print repository rather than a journal. Articles hosted may not yet have been verified by peer-review and should be treated as preliminary. In particular, anything that appears to include financial or legal advice or proposed medical treatments should be treated with due caution. Vixra.org will not be responsible for any consequences of actions that result from any form of use of any documents on this website.

Add your own feedback and questions here:
You are equally welcome to be positive or negative about any paper but please be polite. If you are being critical you must mention at least one specific error, otherwise your comment will be deleted as unhelpful.

comments powered by Disqus