{"id":38636,"date":"2025-03-06T08:35:55","date_gmt":"2025-03-06T08:35:55","guid":{"rendered":"https:\/\/eces.org.eg\/?p=38636"},"modified":"2025-03-06T08:40:46","modified_gmt":"2025-03-06T08:40:46","slug":"entropy-economics","status":"publish","type":"post","link":"https:\/\/eces.org.eg\/en\/entropy-economics\/","title":{"rendered":"Entropy Economics"},"content":{"rendered":"\n<p><strong>Overview:<br><\/strong>Economists dream of equilibrium. It\u2019s time to wake up.<br>Entropy Economics discards the conventions of equilibrium and presents a new basis for thinking about economic issues, one rooted in life processes\u2014an unequal world of unceasing change in which boundaries, plans, and regulations are essential. Galbraith and Chen\u2019s theory of value is based on scarcity, and it accounts for the power of monopoly. Their theory of production covers increasing and decreasing returns, uncertainty, fixed investments over time, and the impact of rising resource costs. Together, their models illuminate key problems such as trade, finance, energy, climate, conflict, and demography.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Overview:Economists dream of equilibrium. It\u2019s time to wake up.Entropy Economics discards the conventions of equilibrium and presents a new basis for thinking about economic issues, one rooted in life processes\u2014an unequal world of unceasing change in which boundaries, plans, and regulations are essential. Galbraith and Chen\u2019s theory of value is based on scarcity, and it [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":38637,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70],"tags":[],"class_list":["post-38636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-selected-books"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Entropy Economics - ECES<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/eces.org.eg\/en\/entropy-economics\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Entropy Economics - ECES\" \/>\n<meta property=\"og:description\" content=\"Overview:Economists dream of equilibrium. It\u2019s time to wake up.Entropy Economics discards the conventions of equilibrium and presents a new basis for thinking about economic issues, one rooted in life processes\u2014an unequal world of unceasing change in which boundaries, plans, and regulations are essential. 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