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090	0	0	_a330.1 _bGAL 2025
100	1		_aGalbraith, James K. _eauthor. _4aut _4http://id.loc.gov/vocabulary/relators/aut _0http://id.loc.gov/authorities/names/n83229889 _1http://id.loc.gov/rwo/agents/n83229889
245	1	0	_aENTROPY ECONOMICS : _bThe Living Basis of Value and Production / _cJames K. Galbraith and Jing Chen.
264		1	_aChicago : _bThe University of Chicago Press, _c2025.
264		4	_c©2025
300			_axx, 231 pages : _billustrations ; _c23 cm.
336			_atext _btxt _2rdacontent _0http://id.loc.gov/vocabulary/contentTypes/txt
337			_aunmediated _bn _2rdamedia _0http://id.loc.gov/vocabulary/mediaTypes/n
338			_avolume _bnc _2rdacarrier _0http://id.loc.gov/vocabulary/carriers/nc
504			_aIncludes bibliographical references (pages 203-212) and index.
505	0		_aAn economic theory compatible with life processes and physical laws -- Economics without equilibrium -- No economy without government -- Theories of value in economics -- Scarcity, information, entropy, and economic value -- Resources and the theory of production -- Elements of a biophysical production theory -- A biophysical theory of production in mathematical form -- Life in a world without equilibrium.
520			_a"Economists dream of equilibrium. It's time to wake up. In mainstream economics, markets are ideal if competition is perfect. When supply balances demand, economic maturity is orderly and disturbed only by shocks. These ideas are rooted in doctrines going back thousands of years yet, as James K. Galbraith and Jing Chen show, they contradict the foundations of our scientific understanding of the physical and biological worlds. Entropy Economics discards the conventions of equilibrium and presents a new basis for thinking about economic issues, one rooted in life processes--an unequal world of unceasing change in which boundaries, plans, and regulations are essential. Galbraith and Chen's theory of value is based on scarcity, and it accounts for the power of monopoly. Their theory of production covers increasing and decreasing returns, uncertainty, fixed investments over time, and the impact of rising resource costs. Together, their models illuminate key problems such as trade, finance, energy, climate, conflict, and demography. Entropy Economics is a thrilling framework for understanding the world as it is and will be keenly relevant to the economic challenges of a world threatened with disorder"-- Provided by publisher.
650		0	_aEconomics _0http://id.loc.gov/authorities/subjects/sh85040850
650		0	_aValue _0http://id.loc.gov/authorities/subjects/sh85141930
650		0	_aProduction (Economic theory) _0http://id.loc.gov/authorities/subjects/sh85107209
650		0	_aEntropy _0http://id.loc.gov/authorities/subjects/sh85044150
650		0	_aLife (Biology) _xEconomic aspects
700	1		_aChen, Jing, _d1966- _eauthor. _4http://id.loc.gov/vocabulary/relators/aut _0http://id.loc.gov/authorities/names/n2005057848 _1http://id.loc.gov/rwo/agents/n2005057848
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