Open AccessHow the inclusion of thermodynamic principles recovers economic sciences
Author(s) -
Mieczysław Dobija,
Jurij Renkas
Publication year - 2021
Publication title -
international journal of accounting and economics studies
Language(s) - English
Resource type - Journals
ISSN - 2309-4508
DOI - 10.14419/ijaes.v9i2.31608
Subject(s) - ambiguity , economics , positive economics , narrative , meaning (existential) , neoclassical economics , profit (economics) , capital (architecture) , epistemology , field (mathematics) , sociology , mathematical economics , mathematics , computer science , philosophy , linguistics , archaeology , pure mathematics , history , programming language
So far, economics does not have a coherent theory. This condition is a consequence of the ambiguity of basic categories such as capital, labor, money, and consumption. In the traditional narrative, these categories do not have a strict scientific meaning. This situation is positively changed by the inclusion of the fundamental principles of thermodynamics, especially the famous second principle. This is the main hypothesis argued in the body of the article. The consistent use of thermodynamics made it possible to reinterpret the system of fundamental concepts, as well as to solve cognitive problems in the field of capital and labor theory and sources of profit. The results of the presented empirical research indicate the consistency of the modified economic theory.