The Laws of Thermodynamics and the Economy

Описание к видео The Laws of Thermodynamics and the Economy

What do the Laws of Thermodynamics have to do with the economy? A lot more than you might think! In this lecture, I explore the implications of the 1st and 2nd Laws of Thermodynamics for economic activity. I discuss the important concept of entropy, and introduce three different types of systems (open, closed, and isolated).

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