A View on Economy through Thermodynamic Glasses (the Thermodyamic Currency)
It is demonstrated that the economic value of any object produced by the humankind or any human activity can be considered as a form of energy and obeys the laws of energy systems, and many similarities between thermodynamics and economic/monetary dynamics have been found.
Abstract
Received: 3 March 2019 Accepted: 17 May 2019 The theory of Panergy states that, within a homogeneous socio-economic environment, for example a nation, there is a complete correspondence between the energy spent to make a product/service and its market price. Panergy allows, in a simple way, to measure the energy incorporated in any product/system and expresses it in units of energy or currency alternately. In this document, the concept of Panergy has been exploited and extended to examine its applicability to economy in general and to monetary economy in particular. We demonstrate that the economic value of any object produced by the humankind or any human activity can be considered as a form of energy and obeys the laws of energy systems. Many similarities between thermodynamics and economic/monetary dynamics have been found out. The consequences are that not only energy can be considered a currency unit, but also that the economic value of objects behaves like a thermodynamic gas and that, like in a gas, thermodynamic transformations can describe the variations and monetary spreads between and within the different human communities. The document contains some references on the theory of Panergy previous published, the theoretical explanation of its generalization towards economy and the first discussion on the application of Thermodynamic approaches to monetary and economic processes.