What does ENTROPY mean in Physics,Chemistry & Economics?
Briefly, it is a study of disorganization….
Although there is this idea in physics, a new theory, called String Theory, which assumes that everything–all matter and energy–is made of little strings, so tiny we cannot see.
Most of the chaos we witness occurs at sub-Plank lenghts. What does this mean?
Plank is a scale in physics unimaginably small and incredibly hot. Beyond which classical physics breaks down and the frenzied fluctuations of quantum theory begin. But according to string theory, the strings (the building blocks of our universe) are as small as the plank length. By limiting how small you can get string thoery eliminates all the "preceived" chaos or entropy in the universe.
Or as the Sufis say understanding the science of God is understanding his indivisible nature, understanding how oceans can stand upside down and not spill a drop…
This paper is a contribution to the discussion on the relation between thermodynamics and economic theory. With respect to thermodynamic constraints on the economy, there are two diametrically opposite positions in this discussion. One claims that the constraints are insignificant (of no immediate practical importance for modelling) and in the intermediate run, do not limit economic activity and, therefore, need not be incorporated in the economic theory. The other holds that thermodynamics tells us that there are practical limits to materials recycling, which already puts bounds on the economy and, therefore, must be included in the economic models. Using the thermodynamic concept of entropy, we show here that there are fundamental problems with both positions. Even in the long run, entropy production associated with material dissipation need not be a limiting factor for economic development. Abundant energy resources from solar radiation may be used to recover dissipated elements.
