Re: Entropy.

[Jim Devine <JNDF%LMUACAD.BITNET@xxxxxxxxxxxxxxxxx>]

I can see how the concept of entropy might (and h  should) help us
understand technological issues concerning solar power, but what
about conventionally-defined economics or political economy?
That is, does the concept add anything to our understanding of
the workings of markets, of economic systems, or of political-
economic systems?

does "bioeconomics" treat the economic system as if it wre  were
a biological system or organism?

bill mitchell mentions the application of entropy theory to
management theory. That makes some sense since a hierarchy
(specifically, a bureaucracy) will
tend to fall apart due to resistance from below, information
problems, etc. That is, entropy will tend to increase. To
prevent this fate, energy will have to be invested in
system-maintenance by the folks at the top of the bureaucracy.
But I don't see what this adds to a soi   sociological or
game-theoretic conception.  Maybe the entropy concept can
be used as a metaphor, but it can't be quanm  quantified as
in thermodynamics.

BTW, is there any link between statistical mechanics and economics?

sincerely,

Jim Devine
jndf@xxxxxxxxxxxxxx or jdevine@xxxxxxxxxxxxxxx
Econ. Dept., Loyola Marymount Univ., Los Angeles, CA 90045-2699 USA
310/338-2948 (daytime, during workweek); FAX: 310/338-1950