series of labor and energy, measured in hours worked per year and kilowatt-hours consumed per year, respectively. This … aggregation is the conceptual basis on which those energy-dependent production functions have been constructed that reproduce … energy much larger and for labor much smaller than the cost shares of these factors. Accounting for growth in such a way …

industrialised economy. The starting point of our considerations is that every economic action requires energy, of which many … different forms exist. Taking all of these forms into account, heat energy has a particular significance, because other forms of … energy can never appear in isolation, but only conjointly with heat energy. For this reason, the branch of physics that deals …

investment and economic entropy, including DCF, annuities and bonds. Chapter 8 sets out analyses of world energy and climate … representations of the first and second laws of thermodynamics, work done, internal value and entropic value, reversibility, entropy … kinetics entropy and maximisation and the cycle. Chapter 5 constructs a thermodynamic money system, using historical data of …