Heterodox economics & Thermoeconomics - Unionpedia, the concept map

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Difference between Heterodox economics and Thermoeconomics

Heterodox economics vs. Thermoeconomics

Heterodox economics is any economic thought or theory that contrasts with orthodox schools of economic thought, or that may be beyond neoclassical economics. Thermoeconomics, also referred to as biophysical economics, is a school of heterodox economics that applies the laws of statistical mechanics to economic theory.

Ecological economics

Ecological economics, bioeconomics, ecolonomy, eco-economics, or ecol-econ is both a transdisciplinary and an interdisciplinary field of academic research addressing the interdependence and coevolution of human economies and natural ecosystems, both intertemporally and spatially.

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Economic efficiency

In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts.

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Econophysics

Econophysics is a non-orthodox (in economics) interdisciplinary research field, applying theories and methods originally developed by physicists in order to solve problems in economics, usually those including uncertainty or stochastic processes and nonlinear dynamics.

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Energy

Energy is the quantitative property that is transferred to a body or to a physical system, recognizable in the performance of work and in the form of heat and light.

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Entropy

Entropy is a scientific concept that is most commonly associated with a state of disorder, randomness, or uncertainty.

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Evolution

Evolution is the change in the heritable characteristics of biological populations over successive generations.

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Kinetic exchange models of markets

Kinetic exchange models are multi-agent dynamic models inspired by the statistical physics of energy distribution, which try to explain the robust and universal features of income/wealth distributions.

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Nicholas Georgescu-Roegen

Nicholas Georgescu-Roegen (born Nicolae Georgescu, 4 February 1906 – 30 October 1994) was a Romanian mathematician, statistician and economist.

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Productivity

Productivity is the efficiency of production of goods or services expressed by some measure.

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Second law of thermodynamics

The second law of thermodynamics is a physical law based on universal empirical observation concerning heat and energy interconversions.

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