MEASURING SYSTEM ENTROPY GENERATION IN A COMPLEX ECONOMIC NETWORK (THE CASE OF IRAN)

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SADEGHI AMROABADI BEHROUZ; D.FATH BRIAN; RENANI MOHSEN

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Journal: Journal of Quantitative Economics Year:2015 | Volume:12 | Issue:1 (44) Page(s): 93-127

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Title

MEASURING SYSTEM ENTROPY GENERATION IN A COMPLEX ECONOMIC NETWORK (THE CASE OF IRAN)

Author(s)

SADEGHI AMROABADI BEHROUZ | D.FATH BRIAN | RENANI MOHSEN | Issue Writer Certificate

Keywords

ECONOMIC ENTROPYQ1

COMPLEX SYSTEMQ2

IRANQ2

THERMODYNAMICSQ2

MACROECONOMICQ2

NETWORKQ2

Abstract

An economic system is comprised of different primary flows that can be captured in MACROECONOMIC models with complex NETWORK relations. Theoretically and empirically in this system, weak substitution or complementarity of environmental materials, like energy and other production factors such as capital, is undeniable. This is an effective critique on neoclassical economics. In this paper, we view economy as a complex thermodynamic system in order to calculate entropy generation, specifically the trend of entropy production in IRAN over time. Entropy can be measured as the amount of waste and pollution produced by a system based on Georgescu-Rogen’s view. Using a conceptual model, we show the basic flows in a MACROECONOMIC NETWORK (government, households, firms and financial sector), by focusing on the amount of waste and other entropy generators and show how to calculate the overall entropy for an economic system. Furthermore, we demonstrate this approach using a mathematical model and literature from ecology and MACROECONOMICs of IRAN economy as a case study. Finally, by using statistical data from the World Bank, we show the three important indices of a system- growth, development and entropy values that increased in IRAN during 1970-2014. As it is shown in results, the ECONOMIC ENTROPY of IRAN is increasing.

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APA: Copy

SADEGHI AMROABADI, BEHROUZ, D.FATH, BRIAN, & RENANI, MOHSEN. (2015). MEASURING SYSTEM ENTROPY GENERATION IN A COMPLEX ECONOMIC NETWORK (THE CASE OF IRAN). JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW), 12(1 (44)), 93-127. SID. https://sid.ir/paper/110706/en

Vancouver: Copy

SADEGHI AMROABADI BEHROUZ, D.FATH BRIAN, RENANI MOHSEN. MEASURING SYSTEM ENTROPY GENERATION IN A COMPLEX ECONOMIC NETWORK (THE CASE OF IRAN). JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW)[Internet]. 2015;12(1 (44)):93-127. Available from: https://sid.ir/paper/110706/en

IEEE: Copy

BEHROUZ SADEGHI AMROABADI, BRIAN D.FATH, and MOHSEN RENANI, “MEASURING SYSTEM ENTROPY GENERATION IN A COMPLEX ECONOMIC NETWORK (THE CASE OF IRAN),” JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW), vol. 12, no. 1 (44), pp. 93–127, 2015, [Online]. Available: https://sid.ir/paper/110706/en

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