Conservation laws, financial entropy and the eurozone crisis
Year: 2013
Type: preprint
Abstract: The report attempts of apply econophysics concepts to the Eurozonecrisis. It starts by examining the idea of conservation laws as applied to market economies. It formulates a measure of financial entropy and gives numerical simulations indicating that this tends to rise. We discuss an analogue for free energy released during this process. The concepts of real and symbolic appropriation are introduced as a means to analyse debt and taxation. We then examine the conflict between the conservation laws that apply to commodity exchange with the exponential growth implied by capital accumulation and how these have necessitated a sequence of evolutionary forms for money, and go on
Authors: William Paul Cockshott, David Zachariah
Institutions: University of Glasgow, KTH Royal Institute of Technology
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W3104796082