THERMODYNAMIC MODEL OF CAPITAL EXTRACTION IN ECONOMIC SYSTEMS
In this paper the properties of the wealth function of an economic system are studied. An economic analog of the Gibbs-Duhem equation is derived. Equilibrium states and limiting profit extraction regimes in non-equilibrium economic systems are obtained for the Cobb-Douglas wealth function.
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Croatian Interdisciplinary Society
2005-10-01
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| Series: | Interdisciplinary Description of Complex Systems |
| Subjects: | |
| Online Access: | http://indecs.eu/2005/indecs2005-pp1-16.pdf |