Second Law of Thermodynamics May Explain Economic Evolution
Monday, November 2, 2009 - 08:07
in Mathematics & Economics
(PhysOrg.com) -- Terms such as the "invisible hand," laissez-faire policy, and free-market principles suggest that economic growth and decline in capitalist societies seem to be somehow self-regulated. Now, scientists Arto Annila of the University of Helsinki and Stanley Salthe of Binghampton University in New York show that economic activity can...