Bifurcations of the entropy law
Narrower topics in the RePEc Biblio tree
- No sub-topic listed. You can volunteer to create one by contacting the editor of this entry.
This RePEc Biblio topic is edited by Yuri Maksimenko . It was first published on 2013-04-15 04:49:47 and last updated on 2013-05-23 00:55:13.
Introduction by the editorThe most general law that determines the evolution of an economy is the law of entropy. It makes the economy always choose a way towards minimum entropy. But how entropies of different states of the economy can be compared? The entropy doesn't exist unless all the possible states of the economy are defined. We shall call the manifold of elements of these states the Configuration Space (CS). Then the entropy will measure the uncertainty of the distribution of energy over the CS. Reading the literature we are usually unaware of the entropy law because the literature operates with inappropriate words - crises, turmoil, choice, investment, revolution and so on. One has to apply the conception and discern the law. Actually it is not the entropy that poses a problem but the CS. Any economy has a specific CS and in the course of evolution the CS becomes unstable. It reveals the existence of incompatible subsystems which in common produce a dithering space where the entropy becomes dependent upon the choice of alternative subspaces. This choice is very precarious and its outcome often depends on some salient elements of the subspaces (such as charismatic leaders). But once done, it makes the alternative choices more certain for the future periods. The analysis of these bifurcations involves multidisciplinary approach.