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class="mw-page-title-main">Thermoeconomics</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. 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href="https://bn.wikipedia.org/wiki/%E0%A6%A4%E0%A6%BE%E0%A6%AA%E0%A7%80%E0%A6%AF%E0%A6%BC_%E0%A6%85%E0%A6%B0%E0%A7%8D%E0%A6%A5%E0%A6%A8%E0%A7%80%E0%A6%A4%E0%A6%BF_%E0%A6%B6%E0%A6%BE%E0%A6%B8%E0%A7%8D%E0%A6%A4%E0%A7%8D%E0%A6%B0" title="তাপীয় অর্থনীতি শাস্ত্র – Bangla" lang="bn" hreflang="bn" data-title="তাপীয় অর্থনীতি শাস্ত্র" data-language-autonym="বাংলা" data-language-local-name="Bangla" class="interlanguage-link-target"><span>বাংলা</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Termoeconom%C3%ADa" title="Termoeconomía – Spanish" lang="es" hreflang="es" data-title="Termoeconomía" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%AA%D8%B1%D9%85%D9%88%D8%A7%DA%A9%D9%88%D9%86%D9%88%D9%85%DB%8C%DA%A9" title="ترمواکونومیک – Persian" lang="fa" 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class="interlanguage-link-target"><span>हिन्दी</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Termoeconomia" title="Termoeconomia – Italian" lang="it" hreflang="it" data-title="Termoeconomia" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Termoeconomia" title="Termoeconomia – Portuguese" lang="pt" hreflang="pt" data-title="Termoeconomia" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Entropie_economic%C4%83" title="Entropie economică – Romanian" lang="ro" hreflang="ro" data-title="Entropie economică" data-language-autonym="Română" 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class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Heterodox economic theory</div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">This article is about biophysical economics. 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a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><table class="sidebar sidebar-collapse nomobile nowraplinks"><tbody><tr><td class="sidebar-pretitle">Part of <a href="/wiki/Category:Ecological_economics" title="Category:Ecological economics">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle"><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological economics</a></th></tr><tr><td class="sidebar-image"><figure class="mw-default-size mw-halign-center mw-image-border" typeof="mw:File/Frameless"><a href="/wiki/File:Diagram_of_natural_resource_flows-en.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/9/94/Diagram_of_natural_resource_flows-en.svg/170px-Diagram_of_natural_resource_flows-en.svg.png" decoding="async" width="170" height="179" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/94/Diagram_of_natural_resource_flows-en.svg/255px-Diagram_of_natural_resource_flows-en.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/94/Diagram_of_natural_resource_flows-en.svg/340px-Diagram_of_natural_resource_flows-en.svg.png 2x" data-file-width="794" data-file-height="834" /></a><figcaption></figcaption></figure><div class="sidebar-caption" style="padding-bottom:0.2em;">Humanity's economic system viewed as a subsystem of the global environment</div></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border-top:1px solid #aaa;;color: var(--color-base)"><div class="sidebar-list-title-c">Concepts</div></div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Carbon_fee_and_dividend" title="Carbon fee and dividend">Carbon fee and dividend</a></li> <li><a href="/wiki/Carrying_capacity" title="Carrying capacity">Carrying capacity</a></li> <li><a href="/wiki/Market_failure#Ecological" title="Market failure">Ecological market failure</a></li> <li><a href="/wiki/Ecological_model_of_competition" title="Ecological model of competition">Ecological model of competition</a></li> <li><a href="/wiki/Ecosystem_services" class="mw-redirect" title="Ecosystem services">Ecosystem services</a></li> <li><a href="/wiki/Embodied_energy" title="Embodied energy">Embodied energy</a></li> <li><a href="/wiki/Energy_accounting" title="Energy accounting">Energy accounting</a></li> <li><a href="/wiki/Entropy_pessimism" class="mw-redirect" title="Entropy pessimism">Entropy pessimism</a></li> <li><a href="/wiki/Index_of_Sustainable_Economic_Welfare" title="Index of Sustainable Economic Welfare">Index of Sustainable Economic Welfare</a></li> <li><a href="/wiki/Natural_capital" title="Natural capital">Natural capital</a></li> <li><a href="/wiki/Spaceship_Earth" title="Spaceship Earth">Spaceship Earth</a></li> <li><a href="/wiki/Steady-state_economy" title="Steady-state economy">Steady-state economy</a></li> <li><a href="/wiki/Nicholas_Georgescu-Roegen#Criticising_neoclassical_economics_(weak_versus_strong_sustainability)" title="Nicholas Georgescu-Roegen">Sustainability, 'weak' vs 'strong'</a></li> <li><a href="/wiki/Uneconomic_growth" title="Uneconomic growth">Uneconomic growth</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border-top:1px solid #aaa;;color: var(--color-base)"><div class="sidebar-list-title-c">People</div></div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Serhiy_Podolynsky" title="Serhiy Podolynsky">Serhiy Podolynsky</a></li> <li><a href="/wiki/Frederick_Soddy" title="Frederick Soddy">Frederick Soddy</a></li> <li><a href="/wiki/Nicholas_Georgescu-Roegen" title="Nicholas Georgescu-Roegen">Nicholas Georgescu-Roegen</a></li> <li><a href="/wiki/Kenneth_E._Boulding" title="Kenneth E. Boulding">Kenneth E. Boulding</a></li> <li><a href="/wiki/E._F._Schumacher" title="E. F. Schumacher">E. F. Schumacher</a></li> <li><a href="/wiki/Robert_Ayres_(scientist)" title="Robert Ayres (scientist)">Robert Ayres</a></li> <li><a href="/wiki/Herman_Daly" title="Herman Daly">Herman Daly</a></li> <li><a href="/wiki/Joan_Martinez_Alier" title="Joan Martinez Alier">Joan Martinez Alier</a></li> <li><a href="/wiki/Richard_B._Norgaard" title="Richard B. Norgaard">Richard B. Norgaard</a></li> <li><a href="/wiki/Robert_Costanza" title="Robert Costanza">Robert Costanza</a></li> <li><a href="/wiki/Tim_Jackson_(economist)" title="Tim Jackson (economist)">Tim Jackson</a></li> <li><a href="/wiki/Clive_Spash" title="Clive Spash">Clive Spash</a></li></ul> <p><i>Organizations:</i> </p> <ul><li><a href="/wiki/International_Society_for_Ecological_Economics" title="International Society for Ecological Economics">International Society for Ecological Economics</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border-top:1px solid #aaa;;color: var(--color-base)"><div class="sidebar-list-title-c">Works</div></div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><i><a href="/wiki/Wealth,_Virtual_Wealth_and_Debt" title="Wealth, Virtual Wealth and Debt">Wealth, Virtual Wealth and Debt</a></i></li> <li><i><a href="/wiki/The_Entropy_Law_and_the_Economic_Process" class="mw-redirect" title="The Entropy Law and the Economic Process">The Entropy Law and the Economic Process</a></i></li> <li><i><a href="/wiki/The_Limits_to_Growth" title="The Limits to Growth">The Limits to Growth</a></i></li> <li><i><a href="/wiki/Small_Is_Beautiful" title="Small Is Beautiful">Small Is Beautiful</a></i></li> <li><i><a href="/wiki/Prosperity_Without_Growth" title="Prosperity Without Growth">Prosperity Without Growth</a></i></li> <li><i><a href="/wiki/Ecological_Economics_(journal)" title="Ecological Economics (journal)">Ecological Economics</a></i> (journal)</li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible"><div class="sidebar-list-title" style="border-top:1px solid #aaa;;color: var(--color-base)"><div class="sidebar-list-title-c">Related topics</div></div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Degrowth" title="Degrowth">Degrowth</a></li> <li><a href="/wiki/Eco-investing" title="Eco-investing">Eco-investing</a></li> <li><a href="/wiki/Eco-socialism" title="Eco-socialism">Eco-socialism</a></li> <li><a href="/wiki/Environmental_economics" title="Environmental economics">Environmental economics</a></li> <li><a href="/wiki/Externality" title="Externality">Externality</a></li> <li><a href="/wiki/Green_politics" title="Green politics">Green politics</a></li> <li><a href="/wiki/Planetary_boundaries" title="Planetary boundaries">Planetary boundaries</a></li> <li><a href="/wiki/Post-growth" title="Post-growth">Post-growth</a></li> <li><a href="/wiki/Sustainable_finance" title="Sustainable finance">Sustainable finance</a></li> <li><a href="/wiki/Thermodynamics" title="Thermodynamics">Thermodynamics</a></li> <li><a class="mw-selflink selflink">Thermoeconomics</a></li></ul></div></div></td> </tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" 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0.5em;width:100%}.mw-parser-output .ambox .mbox-image{border:none;padding:2px 0 2px 0.5em;text-align:center}.mw-parser-output .ambox .mbox-imageright{border:none;padding:2px 0.5em 2px 0;text-align:center}.mw-parser-output .ambox .mbox-empty-cell{border:none;padding:0;width:1px}.mw-parser-output .ambox .mbox-image-div{width:52px}@media(min-width:720px){.mw-parser-output .ambox{margin:0 10%}}@media print{body.ns-0 .mw-parser-output .ambox{display:none!important}}</style><table class="box-Technical plainlinks metadata ambox ambox-style ambox-technical" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/f/f2/Edit-clear.svg/40px-Edit-clear.svg.png" decoding="async" width="40" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/f/f2/Edit-clear.svg/60px-Edit-clear.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/f/f2/Edit-clear.svg/80px-Edit-clear.svg.png 2x" data-file-width="48" data-file-height="48" /></span></span></div></td><td class="mbox-text"><div class="mbox-text-span">This article <b>may be too technical for most readers to understand</b>.<span class="hide-when-compact"> Please <a class="external text" href="https://en.wikipedia.org/w/index.php?title=Thermoeconomics&action=edit">help improve it</a> to <a href="/wiki/Wikipedia:Make_technical_articles_understandable" title="Wikipedia:Make technical articles understandable">make it understandable to non-experts</a>, without removing the technical details.</span> <span class="date-container"><i>(<span class="date">May 2022</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> <p><b>Thermoeconomics</b>, also referred to as <b>biophysical economics</b>, is a school of <a href="/wiki/Heterodox_economics" title="Heterodox economics">heterodox economics</a> that applies the <a href="/wiki/Laws_of_thermodynamics" title="Laws of thermodynamics">laws of statistical mechanics</a> to economic theory.<sup id="cite_ref-Sieniutycz_1-0" class="reference"><a href="#cite_note-Sieniutycz-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> Thermoeconomics can be thought of as the <a href="/wiki/Statistical_physics" class="mw-redirect" title="Statistical physics">statistical physics</a> of <a href="/wiki/Value_theory" title="Value theory">economic value</a><sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> and is a subfield of <a href="/wiki/Econophysics" title="Econophysics">econophysics</a>. </p><p>It is the study of the ways and means by which human societies procure and use energy and other biological and physical resources to produce, distribute, consume and exchange goods and services, while generating various types of waste and environmental impacts. Biophysical economics builds on both social sciences and natural sciences to overcome some of the most fundamental limitations and blind spots of conventional economics. It makes it possible to understand some key requirements and framework conditions for economic growth, as well as related constraints and boundaries.<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Thermodynamics">Thermodynamics</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Thermoeconomics&action=edit&section=1" title="Edit section: Thermodynamics"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <blockquote><p><i>"Rien ne se perd, rien ne se crée, tout se transforme"</i> </p><p><i>"Nothing is lost, nothing is created, everything is transformed."</i> </p><p> -<i><a href="/wiki/Antoine_Lavoisier" title="Antoine Lavoisier">Antoine Lavoisier</a>, one of the fathers of chemistry</i></p></blockquote><p>Thermoeconomists maintain that human <a href="/wiki/Economic_system" title="Economic system">economic systems</a> can be modeled as <a href="/wiki/Thermodynamic_system" title="Thermodynamic system">thermodynamic systems</a>. Thermoeconomists argue that economic systems always involve <a href="/wiki/Matter" title="Matter">matter</a>, <a href="/wiki/Energy" title="Energy">energy</a>, <a href="/wiki/Entropy" title="Entropy">entropy</a>, and <a href="/wiki/Information" title="Information">information</a>.<sup id="cite_ref-Baumarter_4-0" class="reference"><a href="#cite_note-Baumarter-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> Then, based on this premise, theoretical economic analogs of the <a href="/wiki/First_law_of_thermodynamics" title="First law of thermodynamics">first</a> and <a href="/wiki/Second_law_of_thermodynamics" title="Second law of thermodynamics">second</a> laws of thermodynamics are developed.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> The global economy is viewed as an <a href="/wiki/Open_system_(systems_theory)" title="Open system (systems theory)">open system</a>. </p><p>Moreover, many economic activities result in the formation of <a href="/wiki/Class_structure" class="mw-redirect" title="Class structure">structures</a>. Thermoeconomics applies the statistical mechanics of <a href="/wiki/Non-equilibrium_thermodynamics" title="Non-equilibrium thermodynamics">non-equilibrium thermodynamics</a> to model these activities.<sup id="cite_ref-Sieniutycz_1-1" class="reference"><a href="#cite_note-Sieniutycz-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> In thermodynamic terminology, human economic activity may be described as a <a href="/wiki/Dissipative_structures" class="mw-redirect" title="Dissipative structures">dissipative system</a>, which flourishes by consuming free energy in transformations and exchange of resources, goods, and services.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> </p> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Energy-and-economics1.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/7/7f/Energy-and-economics1.png/220px-Energy-and-economics1.png" decoding="async" width="220" height="151" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/7f/Energy-and-economics1.png/330px-Energy-and-economics1.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/7f/Energy-and-economics1.png/440px-Energy-and-economics1.png 2x" data-file-width="980" data-file-height="673" /></a><figcaption>A comprehensive and accurate model of how real economic systems work.</figcaption></figure> <div class="mw-heading mw-heading2"><h2 id="Energy_Return_on_Investment">Energy Return on Investment</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Thermoeconomics&action=edit&section=2" title="Edit section: Energy Return on Investment"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><span class="mwe-math-element" id="EROI Energy returned to society Energy required to get that = energy"><span class="mwe-math-mathml-display mwe-math-mathml-a11y" style="display: none;"><math display="block" xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle EROI={\frac {\text{Energy returned to society}}{\text{Energy required to get that energy}}}}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>E</mi> <mi>R</mi> <mi>O</mi> <mi>I</mi> <mo>=</mo> <mrow class="MJX-TeXAtom-ORD"> <mfrac> <mtext>Energy returned to society</mtext> <mtext>Energy required to get that energy</mtext> </mfrac> </mrow> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle EROI={\frac {\text{Energy returned to society}}{\text{Energy required to get that energy}}}}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/378df7947b3fa1344d0923ca9a9ab6ddad5ba4ab" class="mwe-math-fallback-image-display mw-invert skin-invert" id="EROI_Energy_returned_to_society_Energy_required_to_get_that_=_energy" aria-hidden="true" style="vertical-align: -2.338ex; width:44.969ex; height:5.843ex;" alt="{\displaystyle EROI={\frac {\text{Energy returned to society}}{\text{Energy required to get that energy}}}}"></span> </p><p>Thermoeconomics is based on the proposition that the role of <a href="/wiki/Energy" title="Energy">energy</a> in <a href="/wiki/Biological_evolution" class="mw-redirect" title="Biological evolution">biological evolution</a> should be defined and understood not through the <a href="/wiki/Second_law_of_thermodynamics" title="Second law of thermodynamics">second law of thermodynamics</a> but in terms of such economic criteria as <a href="/wiki/Productivity" title="Productivity">productivity</a>, <a href="/wiki/Economic_efficiency" title="Economic efficiency">efficiency</a>, and especially the costs and benefits (or profitability) of the various mechanisms for capturing and utilizing available energy to build biomass and do work.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Accuracy_dispute#Disputed_statement" title="Wikipedia:Accuracy dispute"><span title="The material near this tag is possibly inaccurate or nonfactual. (June 2018)">dubious</span></a> – <a href="/wiki/Talk:Thermoeconomics#Dubious" title="Talk:Thermoeconomics">discuss</a></i>]</sup> </p> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Balloon_graph_representing_quality_EROI.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/1/11/Balloon_graph_representing_quality_EROI.png/220px-Balloon_graph_representing_quality_EROI.png" decoding="async" width="220" height="162" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/11/Balloon_graph_representing_quality_EROI.png/330px-Balloon_graph_representing_quality_EROI.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/11/Balloon_graph_representing_quality_EROI.png/440px-Balloon_graph_representing_quality_EROI.png 2x" data-file-width="850" data-file-height="625" /></a><figcaption>Quality EROI</figcaption></figure> <div class="mw-heading mw-heading2"><h2 id="Peak_oil">Peak oil</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Thermoeconomics&action=edit&section=3" title="Edit section: Peak oil"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Current_U.S._and_Global_Oil,Energy_Situation.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/3/30/Current_U.S._and_Global_Oil%2CEnergy_Situation.jpg/220px-Current_U.S._and_Global_Oil%2CEnergy_Situation.jpg" decoding="async" width="220" height="102" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/30/Current_U.S._and_Global_Oil%2CEnergy_Situation.jpg/330px-Current_U.S._and_Global_Oil%2CEnergy_Situation.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/30/Current_U.S._and_Global_Oil%2CEnergy_Situation.jpg/440px-Current_U.S._and_Global_Oil%2CEnergy_Situation.jpg 2x" data-file-width="600" data-file-height="279" /></a><figcaption>Current US/Global Oil/Energy situation. The Y-axis is the production (and availability) of fossil fuels.</figcaption></figure> <div class="mw-heading mw-heading3"><h3 id="Political_Implications">Political Implications</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Thermoeconomics&action=edit&section=4" title="Edit section: Political Implications"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><i>"[T]he escalation of social protest and political instability around the world is causally related to the unstoppable thermodynamics of global hydrocarbon energy decline and its interconnected environmental and economic consequences."</i><sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Energy_Backed_Credit">Energy Backed Credit</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Thermoeconomics&action=edit&section=5" title="Edit section: Energy Backed Credit"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><i>Under this analysis, a reduction of GDP in advanced economies is now likely:</i> </p> <ol><li><i>when we can no longer access consumption via adding credit, and</i></li> <li><i>with a shift towards lower quality and more costly energy and resources.</i></li></ol> <p><i>The 20th  century experienced increasing energy quality and decreasing energy prices. The 21st century will be a story of decreasing energy quality and increasing energy cost.</i><sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Thermoeconomics&action=edit&section=6" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1184024115">.mw-parser-output .div-col{margin-top:0.3em;column-width:30em}.mw-parser-output .div-col-small{font-size:90%}.mw-parser-output .div-col-rules{column-rule:1px solid #aaa}.mw-parser-output .div-col dl,.mw-parser-output .div-col ol,.mw-parser-output .div-col ul{margin-top:0}.mw-parser-output .div-col li,.mw-parser-output .div-col dd{page-break-inside:avoid;break-inside:avoid-column}</style><div class="div-col"> <ul><li><a href="/wiki/Econophysics" title="Econophysics">Econophysics</a></li> <li><a href="/wiki/Ecodynamics" title="Ecodynamics">Ecodynamics</a></li> <li><a href="/wiki/Kinetic_exchange_models_of_markets" title="Kinetic exchange models of markets">Kinetic exchange models of markets</a></li> <li><a href="/wiki/Systems_ecology" title="Systems ecology">Systems ecology</a></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological economics</a></li> <li><a href="/wiki/Nicholas_Georgescu-Roegen" title="Nicholas Georgescu-Roegen">Nicholas Georgescu-Roegen</a></li> <li><a href="/wiki/Energy_quality" title="Energy quality">Energy quality</a></li> <li><a href="/wiki/Limits_to_growth" class="mw-redirect" title="Limits to growth">Limits to growth</a></li> <li><a href="/wiki/Myron_Tribus" title="Myron Tribus">Myron Tribus</a></li></ul></div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Thermoeconomics&action=edit&section=7" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-Sieniutycz-1"><span class="mw-cite-backlink">^ <a href="#cite_ref-Sieniutycz_1-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Sieniutycz_1-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFSieniutyczSalamon,_Peter1990" class="citation book cs1">Sieniutycz, Stanislaw; Salamon, Peter (1990). <i>Finite-Time Thermodynamics and Thermoeconomics</i>. <a href="/wiki/Taylor_%26_Francis" title="Taylor & Francis">Taylor & Francis</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-8448-1668-X" title="Special:BookSources/0-8448-1668-X"><bdi>0-8448-1668-X</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Finite-Time+Thermodynamics+and+Thermoeconomics&rft.pub=Taylor+%26+Francis&rft.date=1990&rft.isbn=0-8448-1668-X&rft.aulast=Sieniutycz&rft.aufirst=Stanislaw&rft.au=Salamon%2C+Peter&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThermoeconomics" class="Z3988"></span></span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFChen2005" class="citation book cs1">Chen, Jing (2005). <i>The Physical Foundation of Economics - an Analytical Thermodynamic Theory</i>. <a href="/wiki/World_Scientific" title="World Scientific">World Scientific</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/981-256-323-7" title="Special:BookSources/981-256-323-7"><bdi>981-256-323-7</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Physical+Foundation+of+Economics+-+an+Analytical+Thermodynamic+Theory&rft.pub=World+Scientific&rft.date=2005&rft.isbn=981-256-323-7&rft.aulast=Chen&rft.aufirst=Jing&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThermoeconomics" class="Z3988"></span></span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://biophyseco.org/biophysical-economics/what-is-biophysical-economics/">"What is biophysical economics?"</a>. <i>BiophysEco</i>. 2017-01-23<span class="reference-accessdate">. Retrieved <span class="nowrap">2022-09-28</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=BiophysEco&rft.atitle=What+is+biophysical+economics%3F&rft.date=2017-01-23&rft_id=https%3A%2F%2Fbiophyseco.org%2Fbiophysical-economics%2Fwhat-is-biophysical-economics%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThermoeconomics" class="Z3988"></span></span> </li> <li id="cite_note-Baumarter-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-Baumarter_4-0">^</a></b></span> <span class="reference-text">Baumgarter, Stefan. (2004). <a rel="nofollow" class="external text" href="http://www.eco.uni-heidelberg.de/ng-oeoe/research/papers/Baumgaertner%202004%20ModEE.pdf">Thermodynamic Models</a>, Modeling in Ecological Economics (Ch. 18) <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090325075446/http://www.eco.uni-heidelberg.de/ng-oeoe/research/papers/Baumgaertner%202004%20ModEE.pdf">Archived</a> 2009-03-25 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPokrovskii2020" class="citation book cs1">Pokrovskii, Vladimir (2020). <i>Thermodynamics of Complex Systems: Principles and applications</i>. IOP Publishing, Bristol, UK. <a href="/wiki/Bibcode_(identifier)" class="mw-redirect" title="Bibcode (identifier)">Bibcode</a>:<a rel="nofollow" class="external text" href="https://ui.adsabs.harvard.edu/abs/2020tcsp.book.....P">2020tcsp.book.....P</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Thermodynamics+of+Complex+Systems%3A+Principles+and+applications.&rft.pub=IOP+Publishing%2C+Bristol%2C+UK.&rft.date=2020&rft_id=info%3Abibcode%2F2020tcsp.book.....P&rft.aulast=Pokrovskii&rft.aufirst=Vladimir&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThermoeconomics" class="Z3988"></span></span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBurleyFoster,_John1994" class="citation book cs1">Burley, Peter; Foster, John (1994). <i>Economics and Thermodynamics – New Perspectives on Economic Analysis</i>. Kluwer Academic Publishers. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-7923-9446-1" title="Special:BookSources/0-7923-9446-1"><bdi>0-7923-9446-1</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Economics+and+Thermodynamics+%E2%80%93+New+Perspectives+on+Economic+Analysis&rft.pub=Kluwer+Academic+Publishers&rft.date=1994&rft.isbn=0-7923-9446-1&rft.aulast=Burley&rft.aufirst=Peter&rft.au=Foster%2C+John&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThermoeconomics" class="Z3988"></span></span> </li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRaineFoster,_JohnPotts,_Jason2006" class="citation journal cs1">Raine, Alan; Foster, John; Potts, Jason (2006). "The new entropy law and the economic process". <i>Ecological Complexity</i>. <b>3</b> (4): 354–360. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1016%2Fj.ecocom.2007.02.009">10.1016/j.ecocom.2007.02.009</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Ecological+Complexity&rft.atitle=The+new+entropy+law+and+the+economic+process&rft.volume=3&rft.issue=4&rft.pages=354-360&rft.date=2006&rft_id=info%3Adoi%2F10.1016%2Fj.ecocom.2007.02.009&rft.aulast=Raine&rft.aufirst=Alan&rft.au=Foster%2C+John&rft.au=Potts%2C+Jason&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThermoeconomics" class="Z3988"></span></span> </li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAnnila,_A._and_Salthe,_S.Salthe2009" class="citation journal cs1">Annila, A. and Salthe, S., Arto; Salthe, Stanley (2009). <a rel="nofollow" class="external text" href="https://doi.org/10.3390%2Fe11040606">"Economies evolve by energy dispersal"</a>. <i>Entropy</i>. <b>11</b> (4): 606–633. <a href="/wiki/Bibcode_(identifier)" class="mw-redirect" title="Bibcode (identifier)">Bibcode</a>:<a rel="nofollow" class="external text" href="https://ui.adsabs.harvard.edu/abs/2009Entrp..11..606A">2009Entrp..11..606A</a>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://doi.org/10.3390%2Fe11040606">10.3390/e11040606</a></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Entropy&rft.atitle=Economies+evolve+by+energy+dispersal&rft.volume=11&rft.issue=4&rft.pages=606-633&rft.date=2009&rft_id=info%3Adoi%2F10.3390%2Fe11040606&rft_id=info%3Abibcode%2F2009Entrp..11..606A&rft.aulast=Annila%2C+A.+and+Salthe%2C+S.&rft.aufirst=Arto&rft.au=Salthe%2C+Stanley&rft_id=https%3A%2F%2Fdoi.org%2F10.3390%252Fe11040606&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThermoeconomics" class="Z3988"></span><span class="cs1-maint citation-comment"><code class="cs1-code">{{<a href="/wiki/Template:Cite_journal" title="Template:Cite journal">cite journal</a>}}</code>: CS1 maint: multiple names: authors list (<a href="/wiki/Category:CS1_maint:_multiple_names:_authors_list" title="Category:CS1 maint: multiple names: authors list">link</a>)</span></span> </li> <li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text"><a href="/wiki/Peter_A._Corning" class="mw-redirect" title="Peter A. Corning">Peter A. Corning</a> 1*, Stephen J. Kline. (2000). <a rel="nofollow" class="external text" href="https://archive.today/20120630072317/http://www3.interscience.wiley.com/cgi-bin/abstract/71007254/ABSTRACT">Thermodynamics, information and life revisited, Part II: Thermoeconomics and Control information </a> Systems Research and Behavioral Science, Apr. 07, Volume 15, Issue 6, Pages 453 – 482</span> </li> <li id="cite_note-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-10">^</a></b></span> <span class="reference-text"><a href="/wiki/Peter_Corning" title="Peter Corning">Corning, P.</a> (2002). "<a rel="nofollow" class="external text" href="http://www.complexsystems.org/abstracts/thermoec.html">Thermoeconomics – Beyond the Second Law</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20080922072349/http://www.complexsystems.org/abstracts/thermoec.html">Archived</a> 2008-09-22 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>"</span> </li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-11">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAhmed2017" class="citation book cs1">Ahmed, Nafeez Mosaddeq (2017). <a rel="nofollow" class="external text" href="https://www.worldcat.org/oclc/965142394"><i>Failing states, collapsing systems : biophysical triggers of political violence</i></a>. Cham, Switzerland: Springer. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-3-319-47816-6" title="Special:BookSources/978-3-319-47816-6"><bdi>978-3-319-47816-6</bdi></a>. <a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/oclc/965142394">965142394</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Failing+states%2C+collapsing+systems+%3A+biophysical+triggers+of+political+violence&rft.place=Cham%2C+Switzerland&rft.pub=Springer&rft.date=2017&rft_id=info%3Aoclcnum%2F965142394&rft.isbn=978-3-319-47816-6&rft.aulast=Ahmed&rft.aufirst=Nafeez+Mosaddeq&rft_id=https%3A%2F%2Fwww.worldcat.org%2Foclc%2F965142394&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThermoeconomics" class="Z3988"></span></span> </li> <li id="cite_note-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-12">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHagens2020" class="citation journal cs1">Hagens, N. J. (2020-03-01). <a rel="nofollow" class="external text" href="https://doi.org/10.1016%2Fj.ecolecon.2019.106520">"Economics for the future – Beyond the superorganism"</a>. <i>Ecological Economics</i>. <b>169</b>: 106520. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://doi.org/10.1016%2Fj.ecolecon.2019.106520">10.1016/j.ecolecon.2019.106520</a></span>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0921-8009">0921-8009</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:212882790">212882790</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Ecological+Economics&rft.atitle=Economics+for+the+future+%E2%80%93+Beyond+the+superorganism&rft.volume=169&rft.pages=106520&rft.date=2020-03-01&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A212882790%23id-name%3DS2CID&rft.issn=0921-8009&rft_id=info%3Adoi%2F10.1016%2Fj.ecolecon.2019.106520&rft.aulast=Hagens&rft.aufirst=N.+J.&rft_id=https%3A%2F%2Fdoi.org%2F10.1016%252Fj.ecolecon.2019.106520&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThermoeconomics" class="Z3988"></span></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Thermoeconomics&action=edit&section=8" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGeorgescu-Roegen1971" class="citation book cs1">Georgescu-Roegen, Nicholas (1971). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/entropylawe00nich"><i>The Entropy Law and the Economic Process</i></a></span>. Cambridge, Massachusetts: <a href="/wiki/Harvard_University_Press" title="Harvard University Press">Harvard University Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1583486009" title="Special:BookSources/978-1583486009"><bdi>978-1583486009</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Entropy+Law+and+the+Economic+Process&rft.place=Cambridge%2C+Massachusetts&rft.pub=Harvard+University+Press&rft.date=1971&rft.isbn=978-1583486009&rft.aulast=Georgescu-Roegen&rft.aufirst=Nicholas&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fentropylawe00nich&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThermoeconomics" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPokrovskii2011" class="citation book cs1">Pokrovskii, Vladimir (2011). <a rel="nofollow" class="external text" href="https://www.springer.com/physics/complexity/book/978-94-007-2095-4"><i>Econodynamics. The Theory of Social Production</i></a>. New Economic Windows. Berlin: Springer. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-4419-9364-9" title="Special:BookSources/978-1-4419-9364-9"><bdi>978-1-4419-9364-9</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Econodynamics.+The+Theory+of+Social+Production&rft.place=Berlin&rft.series=New+Economic+Windows&rft.pub=Springer&rft.date=2011&rft.isbn=978-1-4419-9364-9&rft.aulast=Pokrovskii&rft.aufirst=Vladimir&rft_id=https%3A%2F%2Fwww.springer.com%2Fphysics%2Fcomplexity%2Fbook%2F978-94-007-2095-4&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThermoeconomics" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKümmel2011" class="citation book cs1">Kümmel, Reiner (2011). <a rel="nofollow" class="external text" href="https://www.springer.com/physics/complexity/book/978-1-4419-9364-9"><i>The Second Law of Economics: Energy, Entropy, and the Origins of Wealth</i></a>. The Frontiers Collection. Berlin: Springer. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-94-007-2095-4" title="Special:BookSources/978-94-007-2095-4"><bdi>978-94-007-2095-4</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Second+Law+of+Economics%3A+Energy%2C+Entropy%2C+and+the+Origins+of+Wealth&rft.place=Berlin&rft.series=The+Frontiers+Collection&rft.pub=Springer&rft.date=2011&rft.isbn=978-94-007-2095-4&rft.aulast=K%C3%BCmmel&rft.aufirst=Reiner&rft_id=https%3A%2F%2Fwww.springer.com%2Fphysics%2Fcomplexity%2Fbook%2F978-1-4419-9364-9&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThermoeconomics" class="Z3988"></span></li> <li>Chen, Jing (2015). <a rel="nofollow" class="external text" href="https://www.springer.com/us/book/9781493934645"><i>The Unity of Science and Economics: A New Foundation of Economic Theory</i></a>: Springer.</li> <li>Charles A.S. Hall, Kent Klitgaard (2018). <a rel="nofollow" class="external text" href="https://link.springer.com/book/10.1007/978-3-319-66219-0"><i>Energy and the Wealth of Nations: An Introduction to Biophysical Economics</i></a>: Springer. <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-3-319-66217-6" title="Special:BookSources/978-3-319-66217-6">978-3-319-66217-6</a></li> <li>Jean-Marc Jancovici, Christopher Blain (2020). <a rel="nofollow" class="external text" href="https://www.europecomics.com/world-without-end-a-necessary-graphic-novel/"><i>World Without End</i></a>. Europe Comics</li> <li>N.J. Hagens (2019). <a rel="nofollow" class="external text" href="https://www.sciencedirect.com/science/article/pii/S0921800919310067"><i>Economics for the future – Beyond the superorganism</i></a>. Science Direct.</li> <li>Nafeez Ahmed (2017). <a rel="nofollow" class="external text" href="https://www.academia.edu/34816514/Failing_States_Collapsing_Systems_BioPhysical_Triggers_of_Political_Violence_SPRINGER_BRIEFS_IN_ENERGY_"><i>Failing States, Collapsing Systems: BioPhysical Triggers of Political Violence</i></a>. Springer Briefs in Energy</li> <li>Smil, Vaclav (2018). <a rel="nofollow" class="external text" href="https://mitpress.mit.edu/9780262536165/energy-and-civilization/"><i>Energy and Civilization: A History</i></a>. MIT Press</li></ul> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Thermoeconomics&action=edit&section=9" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>Yuri Yegorov, article Econo-physics: A Perspective of Matching Two Sciences, Evol. Inst. Econ. Rev. 4(1): 143–170 (2007)</li> <li>Borisas Cimbleris (1998): <a rel="nofollow" class="external text" href="http://ecen.com/eee9/ecoterme.htm">Economy and Thermodynamics</a></li> <li>Schwartzman, David. (2007). "<a rel="nofollow" class="external text" href="http://www.redandgreen.org/Documents/Limits%20to%20entropy%20final.pdf">The Limits to Entropy: the Continuing Misuse of Thermodynamics in Environmental and Marxist theory</a>", In Press, Science & Society.</li> <li>Saslow, Wayne M. (1999). "<a rel="nofollow" class="external text" href="http://www.df.uba.ar/users/giribet/f4/economic.pdf">An Economic Analogy to Thermodynamics</a>" <i>American Association of Physics Teachers</i>.</li> <li><a rel="nofollow" class="external text" href="https://bpeinstitute.org/"><b>Biophysical Economics Institute</b></a></li></ul> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output .navbox+.navbox-styles+.navbox{margin-top:-1px}.mw-parser-output .navbox-inner,.mw-parser-output .navbox-subgroup{width:100%}.mw-parser-output .navbox-group,.mw-parser-output .navbox-title,.mw-parser-output .navbox-abovebelow{padding:0.25em 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navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Ancient_economic_thought" title="Ancient economic thought">Ancient schools</a></li> <li><a href="/wiki/History_of_Islamic_economics" title="History of Islamic economics">Medieval Islamic</a></li> <li><a href="/wiki/Scholasticism" title="Scholasticism">Scholasticism</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Modern era</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Early_modern_philosophy" title="Early modern philosophy">Early modern</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Cameralism" title="Cameralism">Cameralism</a></li> <li><a href="/wiki/Mercantilism" title="Mercantilism">Mercantilism</a></li> <li><a href="/wiki/Physiocracy" title="Physiocracy">Physiocrats</a></li> <li><a href="/wiki/School_of_Salamanca" title="School of Salamanca">School of Salamanca</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Late_modern_philosophy" class="mw-redirect" title="Late modern philosophy">Late modern</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/American_School_(economics)" title="American School (economics)">American (National)</a></li> <li><a href="/wiki/Austrian_School" class="mw-redirect" title="Austrian School">Austrian</a></li> <li><a href="/wiki/Birmingham_School_(economics)" class="mw-redirect" title="Birmingham School (economics)">Birmingham</a></li> <li><a href="/wiki/Classical_economics" title="Classical economics">Classical</a> <ul><li><a href="/wiki/Ricardian_economics" title="Ricardian economics">Ricardian</a></li></ul></li> <li><a href="/wiki/Distributism" title="Distributism">Distributist</a></li> <li><a href="/wiki/English_historical_school_of_economics" title="English historical school of economics">English historical</a></li> <li><a href="/wiki/French_liberal_school" title="French liberal school">French liberal</a></li> <li><a href="/wiki/Georgism" title="Georgism">Georgism</a></li> <li><a href="/wiki/Historical_school_of_economics" title="Historical school of economics">German historical</a></li> <li><a href="/wiki/Malthusianism" title="Malthusianism">Malthusian</a></li> <li><a href="/wiki/Manchester_Liberalism" title="Manchester Liberalism">Manchester</a></li> <li><a href="/wiki/Marginalism" title="Marginalism">Marginalism</a></li> <li><a href="/wiki/Marxian_economics" title="Marxian economics">Marxist economics</a></li> <li><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Marxian critique of political economy</a></li> <li><a href="/wiki/Mutualism_(economic_theory)" title="Mutualism (economic theory)">Mutualism</a></li> <li><a href="/wiki/Neoclassical_economics" title="Neoclassical economics">Neoclassical</a> <ul><li><a href="/wiki/Lausanne_School" title="Lausanne School">Lausanne</a></li></ul></li> <li><a href="/wiki/Socialist_economics" title="Socialist economics">Socialist</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Contemporary<br />(20th and<br />21st centuries)</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Behavioral_economics" title="Behavioral economics">Behavioral</a></li> <li><a href="/wiki/Buddhist_economics" title="Buddhist economics">Buddhist</a></li> <li><a href="/wiki/Capability_approach" title="Capability approach">Capability approach</a></li> <li><a href="/wiki/Carnegie_School" title="Carnegie School">Carnegie</a></li> <li><a href="/wiki/Chartalism" title="Chartalism">Chartalism</a> <ul><li><a href="/wiki/Modern_Monetary_Theory" class="mw-redirect" title="Modern Monetary Theory">Modern Monetary Theory</a></li></ul></li> <li><a href="/wiki/Chicago_school_of_economics" title="Chicago school of economics">Chicago</a></li> <li><a href="/wiki/Constitutional_economics" title="Constitutional economics">Constitutional</a></li> <li><a href="/wiki/Krak%C3%B3w_School_of_Economics" title="Kraków School of Economics">Cracovian</a></li> <li><a href="/wiki/Disequilibrium_macroeconomics" title="Disequilibrium macroeconomics">Disequilibrium</a></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary</a></li> <li><a href="/wiki/Feminist_economics" title="Feminist economics">Feminist</a></li> <li><a href="/wiki/Freiburg_school" title="Freiburg school">Freiburg</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Keynesian_economics" title="Keynesian economics">Keynesian</a> <ul><li><a href="/wiki/Neo-Keynesian_economics" class="mw-redirect" title="Neo-Keynesian economics">Neo-</a> <ul><li><a href="/wiki/Neoclassical_synthesis" title="Neoclassical synthesis">Neoclassical–Keynesian synthesis</a></li></ul></li> <li><a href="/wiki/New_Keynesian_economics" title="New Keynesian economics">New</a></li> <li><a href="/wiki/Post-Keynesian_economics" title="Post-Keynesian economics">Post-</a> <ul><li><a href="/wiki/Monetary_circuit_theory" title="Monetary circuit theory">Circuitism</a></li> <li><a href="/wiki/Marxism_and_Keynesianism#Heterodoxy_and_Keynes–Marx_synthesis" class="mw-redirect" title="Marxism and Keynesianism">Keynes–Marx synthesis</a></li></ul></li></ul></li> <li><a href="/wiki/Monetarism" title="Monetarism">Monetarism</a> <ul><li><a href="/wiki/Market_monetarism" title="Market monetarism">Market</a></li></ul></li> <li><a href="/wiki/Neo-Malthusianism" class="mw-redirect" title="Neo-Malthusianism">Neo-Malthusian</a></li> <li><a href="/wiki/Neo-Marxian_economics" class="mw-redirect" title="Neo-Marxian economics">Neo-Marxian</a></li> <li><a href="/wiki/Neo-Ricardianism" title="Neo-Ricardianism">Neo-Ricardian</a></li> <li><a href="/wiki/Neo-Schumpeterian_economics" title="Neo-Schumpeterian economics">Neo-Schumpeterian</a></li> <li><a href="/wiki/Neoliberalism" title="Neoliberalism">Neoliberalism</a></li> <li><a href="/wiki/New_classical_macroeconomics" title="New classical macroeconomics">New classical</a> <ul><li><a href="/wiki/Rational_expectations" title="Rational expectations">Rational expectations theory</a></li> <li><a href="/wiki/Real_business-cycle_theory" title="Real business-cycle theory">Real business-cycle theory</a></li></ul></li> <li><a href="/wiki/New_institutional_economics" title="New institutional economics">New institutional</a></li> <li><a href="/wiki/New_neoclassical_synthesis" title="New neoclassical synthesis">New neoclassical synthesis</a></li> <li><a href="/wiki/Organizational_economics" title="Organizational economics">Organizational</a></li> <li><a href="/wiki/Public_choice" title="Public choice">Public choice</a></li> <li><a href="/wiki/Regulation_school" title="Regulation school">Regulation</a></li> <li><a href="/wiki/Saltwater_and_freshwater_economics" title="Saltwater and freshwater economics">Saltwater/freshwater</a></li> <li><a href="/wiki/Stockholm_school_(economics)" class="mw-redirect" title="Stockholm school (economics)">Stockholm</a></li> <li><a href="/wiki/Structuralist_economics" title="Structuralist economics">Structuralist</a></li> <li><a href="/wiki/Supply-side_economics" title="Supply-side economics">Supply-side</a></li> <li><a href="/wiki/Technocracy_movement" title="Technocracy movement">Technocracy movement</a></li> <li><a class="mw-selflink selflink">Thermoeconomics</a></li> <li><a href="/wiki/Virginia_school_of_political_economy" title="Virginia school of political economy">Virginia</a></li> <li><a href="/wiki/Social_credit" title="Social credit">Social credit</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Related</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Critique of political economy</a></li> <li><a href="/wiki/History_of_economic_thought" title="History of economic thought">History of economic thought</a></li> <li><a href="/wiki/History_of_macroeconomic_thought" title="History of macroeconomic thought">History of macroeconomic thought</a></li> <li><a href="/wiki/Economics" 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