thermoeconomics

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The term "thermoeconomics" was coined in 1962 by American engineer Myron Tribus, and developed by the statistician and economist Nicholas Georgescu-Roegen.

Technocracy James Killus 2008
The term "thermoeconomics" was coined in 1962 by American engineer Myron Tribus, and developed by the statistician and economist Nicholas Georgescu-Roegen./quote

Technocracy James Killus 2008
Chemical exergy is used in chemical engineering and thermoeconomics for process optimization, but also in economics and environmental science.

Exergy 2008
In this manner, thermoeconomics attempts to apply the theories in non-equilibrium thermodynamics, in which structure formations called dissipative structures form, and information theory, in which information entropy is a central construct, to the modeling of economic activities in which the natural flows of energy and materials function to create scarce resources.

Technocracy James Killus 2008
As a result, thermoeconomics are often discussed in the field of ecological economics, which itself is related to the fields of sustainability and sustainable development.

Technocracy James Killus 2008