How Long to Read The History and Future of Economics

How Long Does it Take to Read The History and Future of Economics?

It takes the average reader 6 hours and 53 minutes to read The History and Future of Economics by Robert U. Ayres

Assuming a reading speed of 250 words per minute. Learn more

Description

The purpose of this book is three-fold. The first purpose is to posit that the fundamental substance of the universe is energy, and that energy is required (consumed) for any material transformation, or information transmission. The labor theory of value, articulated by the physiocrats and elaborated by Adam Smith, David Ricardo, J.B. Say and Karl Marx was a rough first approximation of the value creation process, in the 17th and 18th centuries, but is now obsolete. Labor is now (mostly) performed by machines, not by humans (or animals). The second aim of the book is to argue that the economy is a living (open) system -- an “island of order” –that exists far from both thermodynamic and economic equilibrium. Order is achieved by dissipating a flux of exergy. Economists frequently emphasize the equilibrium assumption, introduced originally by Leon Walras in 1854. But in reality, biological systems and human social systems are dissipative cycles, far from both thermodynamic equilibrium, and economic equilibrium, yet stable and capable of evolution, driven by the solar exergy flux. The third aim of the book is to re-emphasize, that – being open – the economic system cannot be regarded as a collection of individual competitive utility-maximizing transactions. There are, increasingly, important possibilities for cooperation instead of competition. Moreover third party effects, both “bads” (externalities) and the “public good” (happiness) – need to be incorporated into the socio-economic decision making process.

How long is The History and Future of Economics?

The History and Future of Economics by Robert U. Ayres is 405 pages long, and a total of 103,275 words.

This makes it 137% the length of the average book. It also has 126% more words than the average book.

How Long Does it Take to Read The History and Future of Economics Aloud?

The average oral reading speed is 183 words per minute. This means it takes 9 hours and 24 minutes to read The History and Future of Economics aloud.

What Reading Level is The History and Future of Economics?

The History and Future of Economics is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy The History and Future of Economics?

The History and Future of Economics by Robert U. Ayres is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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