Entropy Economics: The Living Basis of Value and Production - Tapa dura

Galbraith, James K.; Chen, Jing

9780226827193: Entropy Economics: The Living Basis of Value and Production

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ISBN 10: 0226827194 ISBN 13: 9780226827193

Editorial: University of Chicago Press, 2025

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Economists dream of equilibrium. It’s time to wake up.

In mainstream economics, markets are ideal if competition is perfect. When supply balances demand, economic maturity is orderly and disturbed only by shocks. These ideas are rooted in doctrines going back thousands of years yet, as James K. Galbraith and Jing Chen show, they contradict the foundations of our scientific understanding of the physical and biological worlds.

Entropy Economics discards the conventions of equilibrium and presents a new basis for thinking about economic issues, one rooted in life processes―an unequal world of unceasing change in which boundaries, plans, and regulations are essential. Galbraith and Chen’s theory of value is based on scarcity, and it accounts for the power of monopoly. Their theory of production covers increasing and decreasing returns, uncertainty, fixed investments over time, and the impact of rising resource costs. Together, their models illuminate key problems such as trade, finance, energy, climate, conflict, and demography.

Entropy Economics is a thrilling framework for understanding the world as it is and will be keenly relevant to the economic challenges of a world threatened with disorder.

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James K. Galbraith is professor at the University of Texas at Austin. Jing Chen is assistant professor at the University of Northern British Columbia.

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EditorialUniversity of Chicago Press
A�o de publicaci�n2025
ISBN 10 0226827194
ISBN 13 9780226827193
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IdiomaIngl�s
N�mero de p�ginas248
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Entropy Economics

James K. Galbraith

Publicado por University of Chicago Press, 2025

ISBN 10: 0226827194 ISBN 13: 9780226827193

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ENTROPY ECONOMICS

GALBRAITH, JAMES K

Publicado por University of Chicago Press, 2025

ISBN 10: 0226827194 ISBN 13: 9780226827193

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Entropy Economics: The Living Basis of Value and Production

Galbraith, James K.; Chen, Jing

Publicado por University of Chicago Press, 2025

ISBN 10: 0226827194 ISBN 13: 9780226827193

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Entropy Economics: The Living Basis of Value and Production

James K. Galbraith

Publicado por The University of Chicago Press, 2025

ISBN 10: 0226827194 ISBN 13: 9780226827193

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Entropy Economics : The Living Basis of Value and Production

James K. Galbraith

Publicado por The University Of Chicago Press Jan 2025, 2025

ISBN 10: 0226827194 ISBN 13: 9780226827193

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Buch. Condici�n: Neu. Neuware - 'Economists dream of equilibrium. It's time to wake up. In mainstream economics, markets are ideal if competition is perfect. When supply balances demand, economic maturity is orderly and disturbed only by shocks. These ideas are rooted in doctrines going back thousands of years yet, as James K. Galbraith and Jing Chen show, they contradict the foundations of our scientific understanding of the physical and biological worlds. Entropy Economics discards the conventions of equilibrium and presents a new basis for thinking about economic issues, one rooted in life processes--an unequal world of unceasing change in which boundaries, plans, and regulations are essential. Galbraith and Chen's theory of value is based on scarcity, and it accounts for the power of monopoly. Their theory of production covers increasing and decreasing returns, uncertainty, fixed investments over time, and the impact of rising resource costs. Together, their models illuminate key problems such as trade, finance, energy, climate, conflict, and demography. Entropy Economics is a thrilling framework for understanding the world as it is and will be keenly relevant to the economic challenges of a world threatened with disorder'. N� de ref. del art�culo: 9780226827193

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