Capital, Revenue and the Non equilibrium Thermodynamics of Value

This comprehensive book examines the concept of value as it applies to the ‘Ricardian machine’; the physical system in which commodities are produced by means of commodities. Clair Quentin answers the fundamental question: how can the growth of this system be objectively measured? This comprehensive book examines the concept of value as it applies to the ‘Ricardian machine’: the physical system in which commodities are produced by means of commodities. Clair Quentin answers the fundamental question: how can the growth of this system be objectively measured? Quentin deploys the notion of thermodynamic depth, exploring its relationship to labour and how it relates to commodities. They explore key concepts such as entropy, physical and social surplus, the idea of capital as a biophysical system and the function of things falling outside the system such as intangible assets and the state. Capital, Revenue and the Non-equilibrium Thermodynamics of Value is a crucial resource for scholars and students of economics, particularly those in the fields of political, legal, post-keynesian and biophysical economics, as well as economic methodology.