EconoThermodynamics, or the world economy "thermal death" paradox

TL;DR

This paper explores applying thermodynamics principles to economics, viewing the global economy as a thermodynamic system and discussing the implications of increasing entropy on economic activities and leadership decisions.

Contribution

It introduces thermodynamic parameters into economic analysis and models the world economy as a macrosystem affected by entropy increase, highlighting potential consequences.

Findings

Entropy increases due to irreversible economic activities

Thermodynamic parameters can model economic processes

Implications for economic leadership and decision-making

Abstract

The paper present one of attempts to apply the thermodynamics laws to economics. Introducing common thermodynamic parameters and considering world economics as a one macrosystem, authors demonstrate the possible consequences of entropy increasing due to irreversible economics activities. "Entropy" advices to leaders of different business units are presented.