Work, exergy, the economy, money, and wealth

Work, exergy, the economy, money, and wealth

by George Mobus
 
This is something of a tutorial on the relationship between energy and the economy. I have been dismayed by how often people express their lack of knowledge about that relationship. Such expressions come in the form of beliefs that money is what drives the economy. Or the belief that the human desire to accumulate monetary wealth is the motive force for economic growth. Indeed I doubt that most people ever think of physics when they think of the economy.

But the reality is that the economy is very much a physical process that requires energy to continue operating. All of the money in the world will not suffice to maintain the motivation of the wheels of industry unless it can be used to exchange for energy flow. Here is a guide regarding how the real wealth of nations is created and a more concise look at the nature of energy flow needed to do so.

Wealth Production, Movement, and Work

Let’s start with a basic definition of wealth…………….

Full story at http://www.energybulletin.net/stories/2010-10-05/work-exergy-economy-money-and-wealth and http://www.theoildrum.com/node/7016

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