Abstract
Econometrics aspires to the role of Maxwell’s demon: who by being able to measure the properties of individual molecules can sort them and thus counteract the increase of entropy. I rather doubt if this can be done and I will try to investigate this situation by sketching the history of thermodynamical thinking about economics in Hungary.
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References
Bródy, A. et al. 1985. `An Essay in Macroeconomics’. Acta Oeconomica, 35:3–4, pp.337–343.
Neumann, J. von. 1945–46. `A Model of General Economic Equilibrium’. Review of Economic Studies, 13, pp. 1–9.
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© 1994 Springer Science+Business Media New York
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Bródy, A. (1994). The Use of Thermodynamic Models in Economics. In: Burley, P., Foster, J. (eds) Economics and Thermodynamics. Recent Economic Thought Series, vol 38. Springer, Dordrecht. https://doi.org/10.1007/978-94-015-8269-8_3
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DOI: https://doi.org/10.1007/978-94-015-8269-8_3
Publisher Name: Springer, Dordrecht
Print ISBN: 978-90-481-5796-9
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