PowerSwitch

Things that are hotter than their environment cool off. Of the billions of cups of coffee poured in the broad sweep of history, not one has warmed up of its own accord, not for an instant. The entropy process is as consistent and irreversible as Father Time; you can tell whether it’s earlier or later based on the warmth of your coffee. Einstein said of the entropy law, “It is the only physical theory of universal content, which I am convinced . . . will never be overthrown.” Einstein was also impressed by the entropy law’s “range of applicability.”

[...] And apply it Georgescu-Roegen did, unto 457 pages! The main application, in a nutshell, is that absolute efficiency in the economic production process cannot be achieved. Nor can recycling be 100 percent efficient. Pollution is inevitable, and all else equal, more economic production means more pollution. These findings may seem like no-brainers to many, yet neoclassical growth theory has led to wild-eyed optimism regarding “green growth” and “closing the loop” by turning all waste into capital. Such fantasia cannot be soundly refuted without invoking the entropy law.

[...] But the tremendous value of The Entropy Law is that it unequivocally established the profound relevance of thermodynamics to economic affairs. Unlike neoclassical economics, ecological economics embraces this relevance, putting ecological economics into a better position for enlightening real world affairs.

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