thermodynamic equation. From here, we develop an analytic thermodynamic theory of economics. Since a thermodynamic equation is of …. Most people agree that thermodynamic theory is a sounder foundation to describe living systems than Newtonian mechanics …, which is the physical foundation of general equilibrium theory. As it is often the case, an analytical framework that is …

important transfers of this kind into evolutionary economics. It broadly differentiates between approaches that draw on an … shown that an evolutionary approach within economics informed by insights from cognitive science, evolutionary biology, and …