  The application of principles of thermodynamics and statistical mechanics to
economic systems is considered in a broad historical perspective, extending
from prehistoric times to the present day. The hypothesis of maximum entropy
production (MEP), which has been used to model complex physical systems such as
fluid turbulence and the climate of the Earth and other planets, may be applied
to human economic activity, subject to constraints such as the availability of
suitable technology, and the nature of political control. Applied to the
current abundance of available energy from fossil fuel reserves, MEP is shown
to have significant policy implications.
