Change search
ReferencesLink to record
Permanent link

Direct link
Conservation laws, financial entropy and the Eurozone crisis
KTH, School of Electrical Engineering (EES), Signal Processing.
2014 (English)In: Economics, ISSN 1864-6042, Vol. 8, no 1, 20145- p.Article in journal (Refereed) Published
Abstract [en]

The article starts by examining the idea of conservation laws as applied to market economies. It formulates a measure of financial entropy and gives numerical simula-tions indicating that this tends to rise. We discuss an analogue for free energy released during this process. The concepts of real and symbolic appropriation are introduced as a means to analyse debt and taxation. We then examine the conflict between the conservation laws that apply to commodity exchange with the exponential growth implied by capital accumulation and how these have necessitated a sequence of evolutionary forms for money, and go on to present a simple stochastic model for the formation of rates of interest and a model for the time evolution of the rate of profit.

Place, publisher, year, edition, pages
2014. Vol. 8, no 1, 20145- p.
Keyword [en]
Conservation-law, Entropy, Financial crisis
National Category
Ecology Economics and Business
URN: urn:nbn:se:kth:diva-143010DOI: 10.5018/economics-ejournal.ja.2014-5ISI: 000339609200001ScopusID: 2-s2.0-84893618107OAI: diva2:705116

QC 20140314

Available from: 2014-03-14 Created: 2014-03-14 Last updated: 2014-08-22Bibliographically approved

Open Access in DiVA

No full text

Other links

Publisher's full textScopus

Search in DiVA

By author/editor
Zachariah, Dave
By organisation
Signal Processing
In the same journal
EcologyEconomics and Business

Search outside of DiVA

GoogleGoogle Scholar
The number of downloads is the sum of all downloads of full texts. It may include eg previous versions that are now no longer available

Altmetric score

Total: 38 hits
ReferencesLink to record
Permanent link

Direct link