Entropy
I can’t help but feel like economists are far too kinetic in their thinking. They simply don’t understand thermodynamics as the driving forces behind economics.For example, they get to radical uncertainty, and throw their hands up!And yet, we know that, without input of energy by us humans, that all systems (including economic ones) tend to disorganization. This is known as entropy.The only way that a system resists the pull of entropy is by the input of energy. In economic systems this energy is human ingenuity and effort. This is true even for those systems that appear to resist forecastability due to the presence of radical uncertainty.