Economic Cycles of Carnot Type
Abstract
Originally, the Carnot cycle is a theoretical thermodynamic cycle that provides an upper limit on the efficiency that any classical thermodynamic engine can achieve during the conversion of heat into work, or conversely, the efficiency of a refrigeration system in creating a temperature difference by the application of work to the system. The aim of this paper is to introduce and study the economic Carnot cycles into a Roegenian economy, using our Thermodynamic-Economic Dictionary. Of course, the most difficult questions are: what is the economic significance of such a cycle? Roegenian economics is acceptable or not, in terms of practical applications? Our answer is yes for both questions.
Keywords
Cite
@article{arxiv.1812.07960,
title = {Economic Cycles of Carnot Type},
author = {Constantin Udriste and Vladimir Golubyatnikov and Ionel Tevy},
journal= {arXiv preprint arXiv:1812.07960},
year = {2018}
}
Comments
Bicentennial of the University Politehnica of Bucharest 1818-2018 Centenary of Romanian Great Union 1818-2018