Thermodynamics 2.0 | 2022 Program: Sessions and Abstracts

Mon - Wed, July 18 - July 20 , 2022 , Boone, North Carolina

Session T09: Physical Basis of Economy

15:15-16:15. Tuesday July 19, 2022

Chair: Garvin H Boyle

Title: The Use of Exergy for an Alternative, Moneyless, Socioeconomic System

Presenter:

  • Andrew Wallace

(Earth Organisation for Sustainability (EOS), Umeå, Sweden)

Bio-sketch

Software engineer. PhD in robotics and AI.

Author(s):

  • Andrew Wallace

(Earth Organisation for Sustainability (EOS), Umeå, Sweden)

Abstract:T09.145

Abstract

The current socioeconomic system uses a debt based monetary system which enables people to exchange labour for money that they can use to purchase goods or services. This system has a number of problems with it; it results in a small percentage of the population controlling most of the resources of the planet, it results in poverty and starvation, and it has a fundamental unsustainable nature. Thus, EOS proposes an alternative system based on the energy it takes to produce goods within the system. Our proposal starts from the fact that the production of goods forms an example of a physical resource allocation system and as such requires energy to run. The energy and physical resources available places a limit of what the system can do. This paper has the following layout: first, an overview of our current system and exponential growth and why we need to explore an alternative; second, socioeconomic systems as a resources allocation system and third, an overview of energy accounting.

 Keywords: exergy, sustainability, socioeconomics, resource allocation, growth