Book review: Energy, complexity and wealth maximization

Publication date: Available online 9 May 2018Source: Technological Forecasting and Social ChangeAuthor(s): Gökçen Arkalı OlcayAbstractThe book presents a holistic view via the windows of physics and economics to the future of the human race starting from the formation of the universe going through the evolution of the humankind throughout the ages. The author adroitly explains the role of energy as an enabler of evolution, technology and economic growth with an increasing level of complexity throughout the ages. The availability of natural wealth in forms of coal, oil, and natural gas were transformed into useful work incubating technologies and enabling economic growth. Many of the advances in economic growth occurred because of the creative destructions which enabled evolutionary innovations. However, the Earth is no longer in excess of such natural wealth. The mankind should use the knowledge to extract exergy from what is left in terms of natural wealth, solar energy or some other form of energy in the light of thermodynamics that is also neglected for so long in economics and other fields.

Source: Technological Forecasting and Social Change - July 10, 2018 Category: Science Source Type: research