On the Low Degree of Entropy Implied by the Solutions of Modern Macroeconomic Models
The non-causal (“forward-looking”) solution used routinely in academic macroeconomics may represent a violation of a law of entropy, namely that the direction of time is one way (from the past and towards the present), and that the variance of economic processes increases with time. In order to re-e...
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-11-01
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| Series: | Entropy |
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| Online Access: | https://www.mdpi.com/1099-4300/24/12/1728 |