Entropy is a scientific concept that is most commonly associated with a state of disorder, randomness, or uncertainty. The term and the concept are used in diverse fields, from classical thermodynamics, where it was first recognized, to the microscopic description of nature in statistical physics, and to the principles of information theory. It has found far-ranging applications in chemistry and physics, in biological systems and their relation to life, in cosmology, economics, sociology, weather science, climate change, and information systems including the transmission of information in telecommunication.
Pessimism is a mental attitude in which an undesirable outcome is anticipated from a given situation. Pessimists tend to focus on the negatives of life in general. A common question asked to test for pessimism is "Is the glass half empty or half full?"; in this situation, a pessimist is said to see the glass as half empty, or in extreme cases completely empty, while an optimist is said to see the glass as half full. Throughout history, the pessimistic disposition has had effects on all major areas of thinking.
Thermodynamics is a branch of physics that deals with heat, work, and temperature, and their relation to energy, entropy, and the physical properties of matter and radiation. The behavior of these quantities is governed by the four laws of thermodynamics which convey a quantitative description using measurable macroscopic physical quantities, but may be explained in terms of microscopic constituents by statistical mechanics. Thermodynamics applies to a wide variety of topics in science and engineering, especially physical chemistry, biochemistry, chemical engineering and mechanical engineering, but also in other complex fields such as meteorology.
Ecological economics, bioeconomics, ecolonomy, eco-economics, or ecol-econ is both a transdisciplinary and an interdisciplinary field of academic research addressing the interdependence and coevolution of human economies and natural ecosystems, both intertemporally and spatially. By treating the economy as a subsystem of Earth's larger ecosystem, and by emphasizing the preservation of natural capital, the field of ecological economics is differentiated from environmental economics, which is the mainstream economic analysis of the environment. One survey of German economists found that ecological and environmental economics are different schools of economic thought, with ecological economists emphasizing strong sustainability and rejecting the proposition that physical (human-made) capital can substitute for natural capital.
Non-equilibrium thermodynamics is a branch of thermodynamics that deals with physical systems that are not in thermodynamic equilibrium but can be described in terms of macroscopic quantities that represent an extrapolation of the variables used to specify the system in thermodynamic equilibrium. Non-equilibrium thermodynamics is concerned with transport processes and with the rates of chemical reactions.
In science, a process that is not reversible is called irreversible. This concept arises frequently in thermodynamics. All complex natural processes are irreversible, although a phase transition at the coexistence temperature is well approximated as reversible.
Econophysics is a non-orthodox interdisciplinary research field, applying theories and methods originally developed by physicists in order to solve problems in economics, usually those including uncertainty or stochastic processes and nonlinear dynamics. Some of its application to the study of financial markets has also been termed statistical finance referring to its roots in statistical physics. Econophysics is closely related to social physics.
Herman Edward Daly was an American ecological and Georgist economist and professor at the School of Public Policy of University of Maryland, College Park in the United States, best known for his time as a senior economist at the World Bank from 1988 to 1994. In 1996, he was awarded the Right Livelihood Award for "defining a path of ecological economics that integrates the key elements of ethics, quality of life, environment and community."
A steady-state economy is an economy made up of a constant stock of physical wealth (capital) and a constant population size. In effect, such an economy does not grow in the course of time. The term usually refers to the national economy of a particular country, but it is also applicable to the economic system of a city, a region, or the entire world. Early in the history of economic thought, classical economist Adam Smith of the 18th century developed the concept of a stationary state of an economy: Smith believed that any national economy in the world would sooner or later settle in a final state of stationarity.
Heterodox economics is any economic thought or theory that contrasts with orthodox schools of economic thought, or that may be beyond neoclassical economics. These include institutional, evolutionary, feminist, social, post-Keynesian, ecological, Austrian, complexity, Marxian, socialist, and anarchist economics.
Ecodynamics is a part of applied economics. It covers knowledge on monetary value, the usage of money, and the money flow. It deals with labor, and capital.
Energy quality is a measure of the ease with which a form of energy can be converted to useful work or to another form of energy: i.e. its content of thermodynamic free energy. A high quality form of energy has a high content of thermodynamic free energy, and therefore a high proportion of it can be converted to work; whereas with low quality forms of energy, only a small proportion can be converted to work, and the remainder is dissipated as heat. The concept of energy quality is also used in ecology, where it is used to track the flow of energy between different trophic levels in a food chain and in thermoeconomics, where it is used as a measure of economic output per unit of energy. Methods of evaluating energy quality often involve developing a ranking of energy qualities in hierarchical order.
Robert Underwood Ayres was an American-born physicist and economist. His career focused on the application of physical ideas, especially the laws of thermodynamics, to economics; a long-standing pioneering interest in material flows and transformations —a concept which he originated. His most recent work challenged the widely held economic theory of growth.
Nicholas Georgescu-Roegen was a Romanian mathematician, statistician and economist. He is best known today for his 1971 magnum opus The Entropy Law and the Economic Process, in which he argued that all natural resources are irreversibly degraded when put to use in economic activity. A progenitor and a paradigm founder in economics, Georgescu-Roegen's work was decisive for the establishing of ecological economics as an independent academic sub-discipline in economics.
Charles A. S. Hall is an American systems ecologist and ESF Foundation Distinguished Professor at State University of New York in the College of Environmental Science & Forestry.
Eric Zencey was an American author, and lecturer at the University of Vermont in Burlington, Vermont and Washington University in St. Louis.
Degrowth or post-growth economics is an academic and social movement critical of the concept of growth in gross domestic product as a measure of human and economic development. Degrowth theory is based on ideas and research from a multitude of disciplines such as economics, economic anthropology, ecological economics, environmental sciences and development studies. It argues that the unitary focus of modern capitalism on growth, in terms of monetary value of aggregate goods and services, causes widespread ecological damage and is not necessary for the further increase of human living standards. Degrowth theory has been met with both academic acclaim and considerable criticism.
Bioeconomics may refer to:
Mauro Bonaiuti, PhD, teaches Ecological economics on the Master's on Socio-Environmental Sustainability and Solidarity Economy and Sustainability programme at the University of Turin. He is co-founder of the Italian Degrowth Association and among the promoters of the Italian Solidarity Economy Network.
Vladimir Nikolajevich Pokrovskii is a Russian scientist known for his original contributions to polymer physics and economic theory. He was the founder of the Altai school of dynamics of nonlinear fluids.
