Interdisciplinary Description of Complex Systems (Oct 2005)

THERMODYNAMIC MODEL OF CAPITAL EXTRACTION IN ECONOMIC SYSTEMS

  • A. A. Ahremenkov,
  • N. A. Alimova,
  • V. Kazakov,
  • A. M. Tsirlin

Journal volume & issue
Vol. 3, no. 1
pp. 1 – 16

Abstract

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In this paper the properties of the wealth function of an economic system are studied. An economic analog of the Gibbs-Duhem equation is derived. Equilibrium states and limiting profit extraction regimes in non-equilibrium economic systems are obtained for the Cobb-Douglas wealth function.

Keywords