The historic link between output (GDP) growth and employment has weakened. Since there is no quantitively verifiable economic theory to explain past growth, this unique book explores the fundamental relationship between thermodynamics (physical work) and economics.

The conventional utility-based approach to microeconomics is now nearly a century old and although frequently criticised, it has yet to be replaced. On the Reappraisal of Microeconomics offers an alternative approach that overcomes most of the objections to orthodox theory, whilst offering some...

Edited by two experts in the field, this timely collection comprises seminal works concerning the relationship between energy as it is understood in physics, and economic theory. Topics covered include material on foundational issues, the history of thought, energy as a driver of growth, entropy...