THERMOECONOMICS - Vocat International Ltd
THERMOECONOMICS - Vocat International Ltd THERMOECONOMICS - Vocat International Ltd
© VOCAT International Ltd 2012 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior permission of the publisher. Published by VOCAT International Ltd 10 Falconers Field Harpenden Herts AL5 3ES UK Third Edition ISBN 978-0-9562975-3-2 The electronic versions of the book chapters are made available free on the website www.vocat.co.uk for personal and educational use only by interested readers. While the author has made every effort to be diligent and accurate in his researches, he cannot be held responsible for the use that readers may make of his work, and they should satisfy themselves as to logic and veracity of the conclusions drawn. Citation for the book: John Bryant. ‘Thermoeconomics – A thermodynamic approach to economics’, VOCAT International Ltd, 2011. ISBN 978-0-9562975-3-2
Contents Preface 1 Introduction 1 1.1 Historical Research 2 1.2 Economics and the Ideal Gas 6 2 Stock and Flow Processes 17 2.1 General Stock Model 19 2.2 Monetary Stock Model 31 2.3 Labour Sector 34 2.4 Stocks of Economic Output 40 2.5 Resource Stocks 46 2.6 Environment Waste Stocks 48 3 Thermodynamic Principles 50 3.1 First Law of Thermodynamics 50 3.2 Second Law of Thermodynamics 59 3.3 Constant Volume Process 63 3.4 Constant Price Process 67 3.5 Iso-trading Process 69 3.6 Polytropic Process 71 3.7 Isentropic Process 74 3.8 Process Entropy 76 3.9 Thermodynamics & Utility 81 4 Production and Entropy Processes 88 4.1 A Simple Production System 89 4.2 Reaction Kinetics 104 4.3 Entropy and Maximisation 108 4.4 The Cycle 113 5 Money 118 5.1 Development & Elasticity 121 5.2 Money Entropy 133 5.3 Money Entropy & Interest Rates 140
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© VOCAT <strong>International</strong> <strong>Ltd</strong> 2012<br />
All rights reserved. No part of this publication may be reproduced, stored in<br />
a retrieval system or transmitted in any form or by any means, electronic,<br />
mechanical, photocopying, recording, or otherwise without the prior<br />
permission of the publisher.<br />
Published by<br />
VOCAT <strong>International</strong> <strong>Ltd</strong><br />
10 Falconers Field<br />
Harpenden<br />
Herts<br />
AL5 3ES<br />
UK<br />
Third Edition<br />
ISBN 978-0-9562975-3-2<br />
The electronic versions of the book chapters are made available free on the<br />
website www.vocat.co.uk for personal and educational use only by<br />
interested readers. While the author has made every effort to be diligent and<br />
accurate in his researches, he cannot be held responsible for the use that<br />
readers may make of his work, and they should satisfy themselves as to<br />
logic and veracity of the conclusions drawn.<br />
Citation for the book:<br />
John Bryant. ‘Thermoeconomics – A thermodynamic approach to economics’,<br />
VOCAT <strong>International</strong> <strong>Ltd</strong>, 2011. ISBN 978-0-9562975-3-2
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