Berndt, E. R. (1981). From Technocracy to Net Energy Analysis: Engineers, Economists and Recurring Energy Theories of Value. Studies in Energy and the American Economy. ASIN B00070SQAE. Energy Laboratory, Sloan School of Management, Massachusetts Institute of Technology.

has been cited by the following article:

• TITLE: On the Energy Theory of Value: Economy and Policies

  AUTHORS: Peter Stallinga

  KEYWORDS: Labor Theory of Value (LTV), Physics, Politics, Energy Theory of Value (ETV)

  JOURNAL NAME: Modern Economy, Vol.11 No.5, May 28, 2020

  ABSTRACT: The Energy Theory of Value is presented on basis of clearly defined physical principles of energy and entropy. It is put in three postulates: economy is energy consumption, the universe (and thus economy) needs to increase its entropy, and in a free market every trade leaves people happier (defined in physical objectives). For the energy equivalence, we find a current energy value of 170 mW economy per (2019) US$/year. Three basic questions are asked and answered: Is unfettered capitalism possible? Can we manage a steady-state economy in a free market? Do the energy transition policies make sense? It is found that if energy consumption is reduced, it will push many people into abject poverty.