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On the physical meaning of Economy

Trobada 2014/2015 
 Wednesday, 12 November 2014 11:30
Paterna (Valencia)
Antonio Turiel
Instituto de Ciencias del Mar, CSIC; Barcelona
Due to the severe economical crisis in which we are all embedded since some years ago, we are continuously being assaulted by news informing us about many details on the the evolution of our economy and the financial market. These news include a plethora of economic terms which are acritically accepted by everyone, despite of their inherent logical inconsistency.

In this talk we will present a rapid overview of the mathematical and physical basis of our economic system, as well as a discussion on the socially accepted goals adopted for its evolution. We will show that some basic economic assumptions are not only devoid of physical meaning; they also constrain our economic system to fail in finite time, eventually leading us to the verge of civilization collapse. By analysing the present situation regarding system inputs (resources) and outputs (waste) we can conclude that the critical point of a civilization transition is alarmingly close.

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All Dates

  • Wednesday, 12 November 2014 11:30

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