Posted by Nicole Tedesco on June 20, 2011
Human thermodynamics is a fascinating topic, which might be “unifying” across not only physics but also across economics, history, politics, sociology and human psychology! Consider “irreversibility” in economics not as a by-product of economic trade, agreement, contract, property rights and general rule of law, but a feature which reduces the cognitive load in the human brain.
What if it turns out we humans are built to seek “cognitive irreversibility”? What if irreversibility in human affairs is not an epiphenomenon but part of our cognitive goal-seeking repertoire?
I am not certain of the utility of applying thermodynamic analysis to human behavior and economics, and I certainly to not wax ergosophic, but I can certainly see the utility of including “irreversibility-seeking” as a goal to be optimized in game theory.
Update (25 June 2011): The actual work at the web site I consider bull. The theorists, I believe, do not understand the degree to which they are merely borrowing an analogy.