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Physical Economics

Ellman, Jonathan (2022) Physical Economics. [Preprint]

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Abstract

Physical Economics is a theory of physics and economics that aims to establish the link between financial currency and energy usage as the most reliable measure of Wealth and Progress. Wealth and Progress are also defined within this theory.

Human technology constantly increases the quantity of energy and matter that it converts from one form to another, this is the definition of Progress, a process that has no determinable end. Therefore, the place of humanity in the universe must be considered. Speculation on this is clearly labelled as such and limited in this essay and the focus is on the claim that the definition of Progress offered is the most reliable and consistent of all.

Physical Economics is not an ideology. However, it does offer a rational, science-based framework for understanding much that is political. This offer includes a discussion on the significance of status to political views; something not sufficiently dealt with by earlier ideologies and a subject ripe for contemporary studies that would benefit from an understanding and incorporation of Physical Economics.

Political discourse is lost in an anachronistic lexicon of left wing versus right wing, socialist versus capitalist politics. Progress has no coherent guide and its ever-faster pace has no known destination. Physical Economics’ definition of Wealth and Progress provides a starting point from which the economic relations between individuals and collectives can be more rationally and accurately assessed. The choices, political, moral and ethical that individuals and collectives make can be reconsidered as decisions about how to use their share of energy, their proportion of Wealth as a guide for directing Progress. Ultimately, Physical Economics will contribute to the (re)unification of science, economics and philosophy.


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Item Type: Preprint
Creators:
CreatorsEmailORCID
Ellman, Jonathanj.ellman@outlook.com
Keywords: Physics, economics, thermodynamics, dialectics
Subjects: Specific Sciences > Economics
General Issues > Philosophers of Science
General Issues > Science and Society
Specific Sciences > Psychology > Social Psychology
Depositing User: Mr Jonathan Ellman
Date Deposited: 09 May 2022 04:01
Last Modified: 09 May 2022 04:01
Item ID: 20486
Subjects: Specific Sciences > Economics
General Issues > Philosophers of Science
General Issues > Science and Society
Specific Sciences > Psychology > Social Psychology
Date: 25 April 2022
URI: http://philsci-archive.pitt.edu/id/eprint/20486

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