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Energy theory of periodic economic growth

Publication ,  Journal Article
Bejan, A; Errera, MR; Gunes, U
Published in: International Journal of Energy Research
June 10, 2020

This article shows that the sudden end of economic expansion (movement, wealth) emerges as a natural, physical feature of the spreading movement, which has access to power (money), freedom to morph, and power storage (savings) for future movement on even greater areas. The movement is driven by power generation, which is interspaced with power savings on the same area. The theory is constructed systematically from the physical basis of economics concepts (money, savings, time, and bubbles) to a physics model that accounts for the time-dependent spreading of movement on an area. Previous study has shown that physics accounts for the proportionality between the annual wealth (GDP) of a population and the annual consumption of fuel to generate power for that population. The present theory extends this view to the more realistic situation where every movement in society (wealth and fuel consumption) is time dependent.

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Published In

International Journal of Energy Research

DOI

EISSN

1099-114X

ISSN

0363-907X

Publication Date

June 10, 2020

Volume

44

Issue

7

Start / End Page

5231 / 5242

Related Subject Headings

  • Energy
  • 4008 Electrical engineering
  • 0913 Mechanical Engineering
  • 0906 Electrical and Electronic Engineering
  • 0904 Chemical Engineering
 

Citation

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Bejan, A., Errera, M. R., & Gunes, U. (2020). Energy theory of periodic economic growth. International Journal of Energy Research, 44(7), 5231–5242. https://doi.org/10.1002/er.5267
Bejan, A., M. R. Errera, and U. Gunes. “Energy theory of periodic economic growth.” International Journal of Energy Research 44, no. 7 (June 10, 2020): 5231–42. https://doi.org/10.1002/er.5267.
Bejan A, Errera MR, Gunes U. Energy theory of periodic economic growth. International Journal of Energy Research. 2020 Jun 10;44(7):5231–42.
Bejan, A., et al. “Energy theory of periodic economic growth.” International Journal of Energy Research, vol. 44, no. 7, June 2020, pp. 5231–42. Scopus, doi:10.1002/er.5267.
Bejan A, Errera MR, Gunes U. Energy theory of periodic economic growth. International Journal of Energy Research. 2020 Jun 10;44(7):5231–5242.
Journal cover image

Published In

International Journal of Energy Research

DOI

EISSN

1099-114X

ISSN

0363-907X

Publication Date

June 10, 2020

Volume

44

Issue

7

Start / End Page

5231 / 5242

Related Subject Headings

  • Energy
  • 4008 Electrical engineering
  • 0913 Mechanical Engineering
  • 0906 Electrical and Electronic Engineering
  • 0904 Chemical Engineering