The Three Laws of Thermodynamics and the Theory of Production

@article{Khalil2004TheTL,
  title={The Three Laws of Thermodynamics and the Theory of Production},
  author={Elias L. Khalil},
  journal={Journal of Economic Issues},
  year={2004},
  volume={38},
  pages={201 - 226}
}
  • E. Khalil
  • Published 2004
  • Economics
  • Journal of Economic Issues
The paper takes issue with Nicholas Georgescu-Roegen's interpretation of the second law of thermodynamics (entropy law) and its relevance to the economics of production. The paper concurs with experts on thermodynamics that Georgescu-Roegen has committed a major error. Namely, Georgescu-Roegen's notion of "material entropy," which he christened as the "fourth law of thermodynamics," is unfounded. Of more importance, Georgescu-Roegen's purported law, as the application of the second law to the… Expand
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