A Unified Theory of Capitalist Development

The unified theory integrates the entropy law into the economics process and derives empirical propositions for the future of world society. A significant conclusion is that the overall inequality cannot be reduced via output expansion, for there are limits to economic growth. Another conclusion is that the problem of the environment is the same social issue of income distribution between the current and future generations. The solution of the inequality conflict within the current generation and between generations is the fundamental economic problem of our time. The implication for more innovative public policies to solve this problem are also discussed in the book.