Epstein Secrets

lage surrounded on all sides by fire, of afterwards when you discover there isn't a tree standing for twenty miles in any direction. In this light, Cooper's suggestion that central banks should aim for a pattern of small business cycles is eminently sensible. Simply reducing leverage and excess liquidi

mp/econophysics/abstracts.html Clementi F, Gallegati M, 2005. Power law tails in the Italian personal income distribution. Physics A 350, 427-438. Cooper G, 2008. The origin of financial crises: Central banks, credit bubbles and the efficient market fallacy. London: Harriman House. Corbett _I, Jenkinso

the question of what is negentropy. Erwin Schr0dinger first introduced the concept of negentropy, in his 1944 popular-science book 'What is life?' [Schrodinger 1944] and it was used in the discussion of living systems. Schrodinger explained his use of this phrase: if I had been catering for them [physicist

ciers, people such as Pettis, Shiller, Smithers, Cooper, Pepper & Oliver have then made insightful attemp

intuitively wrong. In most of the things that humans count, more is better, while with entropy less is normally better. In later sections I follow Schrodinger in using the concept of 'negentropy' (negative-entropy) to get round this problem. The important point of the energy/information debate is that the

ized and are called phonons. Leon Cooper discov- ered that these phonons can bind pairs of electrons, as I have described above, so these are called Cooper pairs. The true magic of quantum mechanics occurs next. When mer- cury (or any of several other materials) is cooled below a certain point, a phase

These electrons have, on average, velocities that are a fair fraction of the speed of light, and to describe them, we must use Special Relativity. Schrodinger's equation worked well to describe the energy levels of elec- trons in the outer parts of simple atoms such as hydrogen, where it pro- vided a quantu