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UNINVITED GUESTS: A THERMODYNAMIC APPROACH TO RESOURCE ALLOCATION

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A theory of resource allocation is emerging from the science of nonequilibrium thermodynamics (NET). The deterministic and reductionist version of NET (DARNET), like neoclassical economics, is functionally simple; however, unlike neoclassical economics, it invites structural complexities. Some of these complexities are behaviourial (e.g., nonrational behaviour and ethics) and are implied by the human evolutionary paradigm subsumed within DARNET; other complexities are physical (e.g., environmental degradation) and are implied directly from core propositions of DARNET. The case for a paradigm shift to DARNET is presented.

SKU: 0810-90288631951 Category: Tag:

Description

By Joseph H. Vogel

A theory of resource allocation is emerging from the science of nonequilibrium thermodynamics (NET). The deterministic and reductionist version of NET (DARNET), like neoclassical economics, is functionally simple; however, unlike neoclassical economics, it invites structural complexities. Some of these complexities are behaviourial (e.g., nonrational behaviour and ethics) and are implied by the human evolutionary paradigm subsumed within DARNET; other complexities are physical (e.g., environmental degradation) and are implied directly from core propositions of DARNET. The case for a paradigm shift to DARNET is presented.

page: 332 – 345
Prometheus: Critical Studies in Innovation
Volume 9, Issue 2

SKU: 0810-90288631951

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