How did Soddy apply chemistry to economics?
My method was to apply the empirical and quantitative rigor of chemistry to the abstract and often misleading concepts of economics. Just as in radioactivity, where elements transform and energy is released or absorbed according to immutable laws, I saw parallels in societal progress and resource management. The laws of thermodynamics, particularly the conservation of energy and the inexorable increase of entropy, provide a fundamental framework. I sought to establish an 'energy accounting' – a 'Cartesian economics' – that recognized energy as the only true, tangible currency, rather than the ephemeral tokens of money and debt that dominate our current systems.
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