Economists have formulated many theories on what drives the economies of global finance. These theories have mostly been developed using both empirical data and logic, but rarely approached from the thermodynamics perspective. This groundbreaking, interdisciplinary book introduces and applies these laws of thermodynamics - the basis of many physical theories - to the field of global finance. An Alternative Analytic Model for the Global Financial System shows how the First and Second Laws of thermodynamics collectively form the true basis of any financial system. It uses analytical models and data to illustrate how the growth of 'soft' assets eventually results in financial instability, unemployment and reduced economic value. Written by a physical scientist and non-economist together with a professor in private equity and venture capital, this book provides a refreshing, scientific and unique view of global finance. Readers will find a thought-provoking and captivating account of how the financial systems can be holistically and elegantly explained by the laws of thermodynamics.
Publisher: World Scientific Publishing Co Pte Ltd
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