Economic as Energy Framework: Complexity, Turbulence, Financial Crises, and Protectionism.
Review of Financial Economics (2015)
Summary: This is an early article I published in the Review of Financial Economics that gives a high-level description of a framework for thinking about economics and finance using tools developed for non equilibrium thermodynamic systems. In this framework, a financial crisis represents a phase transition triggered by a cascading network failure of the financial network. You can download a PDF file of the paper by clicking the “Download” button below.
I hope that you enjoy reading the paper. As always, I welcome your comments.