Money has a material counterpart, such as banknotes or coins, and an ideal expression, monetary units. In the latter case, it is boson-like: individual incomes have no a priori limit, and their units are not distinguishable from each other in economic processes. Individuals, on the other hand,...

The conventional utility-based approach to microeconomics is now nearly a century old and although frequently criticised, it has yet to be replaced. On the Reappraisal of Microeconomics offers an alternative approach that overcomes most of the objections to orthodox theory, whilst offering some...

The relations between information, entropy and energy, which are well known in equilibrium thermodynamics, are not clear far from equilibrium. Moreover, the usual expression of the classical thermodynamic potentials is only valid near equilibrium. In previous publications, we showed for a...