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Upon initial inspection, one might think that topics so broad and different as economics and thermodynamics could not be related, but upon further investigation it becomes clear that the two subjects are intuitively related.
II. APPLICATIONS OF THE THERMODYNAMIC LAWS TO ECONOMICS
The Zeroth Law
The zeroth law of thermodynamics has clear parallels to economics...
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APPLICATIONS OF THE THERMODYNAMIC LAWS TO ECONOMICS
The Zeroth Law
The zeroth law of thermodynamics has clear parallels to economics. This thermodynamic law states that if two systems are in equilibrium with a third system, then these first two systems are also in equilibrium with each other. In economics, there are many different forms of goods that have monetary value...
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