Matthias Ruth on Entropy Law and Economics

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  • Опубликовано: 24 авг 2024
  • Since all economic processes require energy and involve the transformation of materials, these processes always affect environmental quality. Yet, most descriptions of the economy are inconsistent with the fundamental physical laws -- most notably the laws of thermodynamics -- that govern energy conversion and material use. As a consequence, an economics ignorant of these physical laws can generate faulty economic insights and misleading environmental policies. This presentation lays out the basic tenets of an economics that avoids such pitfalls and identifies research and policy agendas that are cognizant of, and work within, the physical constraints on the economy.
    =======================================
    Event:
    Entropy Law and Economics
    Speaker:
    Dr Matthias Ruth, Professor, School of Public Policy & Urban Affairs and Department of Civil and Environmental Engineering, Northeastern University
    Date: Tuesday, 11 March 2014

Комментарии • 16

  • @NYGGJELEBEITE
    @NYGGJELEBEITE 8 лет назад +10

    If the general population needs to understand entropy to solve our problems, I think we are doomed. We also face fundamental constraints in intelligence and information.

    • @lancsFrogger
      @lancsFrogger 7 лет назад +4

      people already understand entropy. what we need is for economists to explain things clearer & for more people to take an interest in economics (so we kind of meet them halfway). both of which are happening already
      we still might be doomed of course. economically. but since we're doomed to die anyway, the outlook is, ultimately, always gonna be kinda doomy

    • @NYGGJELEBEITE
      @NYGGJELEBEITE 7 лет назад

      Yeah you're right.
      Then we have to solve the expansion of the universe crisis.

    • @thehoepproject7768
      @thehoepproject7768 4 года назад

      I would suggest the problem of constraints and information are solvable with a smarter price system. The fundamental constraints on intelligence are solved by Milton Freedman in this "lesson of the pencil" ruclips.net/video/67tHtpac5ws/видео.html
      A price system distributes the value estimation problem to consumers and purchasers to each make their own decision on value. The problem we have in our economy now is because our price system only measures capital extracted value. There's no measure of the environmental cost or community cost or social cost or personal costs in the current price system accounting. But the good news is, that's easy to fix by just adding data to the price and human value price exchange system. The bad news is that's hard to explain in more detail if you're a skeptic, but I do have a website I can share with you that proves it with slideshows and economics graphs and has more info at sites.google.com/view/the-hoep-project

    • @thehoepproject7768
      @thehoepproject7768 4 года назад

      @@lancsFrogger why YOU are soooo gloomy? I have HOPE for you!

  • @CaeSharp
    @CaeSharp 8 лет назад +4

    He sells ebooks for about 200$. Whats he up to?!

    • @thehoepproject7768
      @thehoepproject7768 4 года назад +2

      What if he sold the e-book for "2 hours of your time" as a discount price for poor people? Imagine an alternative price system based on selling things in units of "hours of your personal time" instead of "dollars of your personal wealth"? A book sold at a discount price would have the price calculated by multiplying 2 hours of your time by your dollar per hour rate for work or earning money. If you make $100/hr and then you would pay $200 for the book with this discount price and it's not a discount for rich people. BUT for people who make less than $100/hr on the job, they could save money with an alternative "2 hour" discount price. If you make $10/hr then you could buy the book for only $20. I think you are a lost sale right now? Can I ask how much you make in $/hr for 2 hours of work? Do you think the e-book is worth 2 hours of your time to buy?
      NOTICE: I am not associated with Matthias Ruth or an authorized reseller for Matthias Ruth and this is just a speculative fictional price question for you to consider. HOWEVER Matthias Ruth, is invited to reply with any thoughts on the matter. :-) This provocative fictional reframing was brought to you by sites.google.com/view/the-hoep-project/home and hOEPHeart

    • @SoaringSuccubus
      @SoaringSuccubus 2 года назад +1

      Everything academic is extremely expensive. It's because universities usually buy a subscription/number of books that they'll give access to many students. If you search for scholarly articles, some are priced $60 (one article!!).

  • @danielfaben5838
    @danielfaben5838 Год назад +1

    Cap people. Reduce the human quota. Chaos is only reduced by living by economics as all other creatures live. As apex predators, we would be only supported by the ability of the world to provide in perpetuity. Has not happened in a growth model.

  • @Macrocompassion
    @Macrocompassion 3 года назад +2

    The earth system cannot be closed, because the sun is continuously pouring energy into our atmosphere. Only if we consider all of our universe might it be thought to be closed (except for black-holes).

    • @Macrocompassion
      @Macrocompassion 3 года назад +1

      Its the natural resources, particularly the space and the land, which should be added to the production functions. Control and sharing of these resources is possible when the opportunities for equal access rights to these resources is more properly shared, and likely to better make our society.

    • @Macrocompassion
      @Macrocompassion 3 года назад +1

      Tax Land Values (TAX TAKINGS NOT MAKINGS, TAX LAND NOT PEOPLE!) is what this author is implying, but why can't he say it directly?

    • @Macrocompassion
      @Macrocompassion 3 года назад +1

      Can we measure the amount of the entropy grows (per capita) in the nation and compare its rate with that of other places? Also within a country in different towns etc. Usually we think in terms of energy consumption, but from what has been said here, that is a bit narrow minded!

    • @falseprogress
      @falseprogress Год назад

      It's pragmatically closed because the amount of incoming sunlight each day isn't increasing. Economists act as if it can be endlessly harnessed in greater amounts with new technologies, just as people claim "they" will always find new ways to extract more oil.