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Law of conservation of the capital-output ratio

P A Samuelson1

  • 1MASSACHUSETTS INSTITUTE OF TECHNOLOGY, CAMBRIDGE, MASSACHUSETTS 02139.

Related Concept Videos

Conservation of AC Power01:15

Conservation of AC Power

The principle of power preservation is applicable to both ac and dc circuits. This principle, when applied to AC power, asserts that the complex, real, and reactive powers produced by the source are equal to the total complex, real, and reactive powers absorbed by the loads. When two load impedances are connected in parallel to an ac source V, the complex power provided by the source can be calculated using the relation
Conservation of Energy00:54

Conservation of Energy

The terms 'conserved quantity' and 'conservation law' have specific scientific meanings in physics, which differ from the meanings associated with their everyday use. For example, in everyday usage, water could be conserved by not using it, by using less of it, or by re-using it. However, in scientific terms, a conserved quantity of a system stays constant, changes by a definite amount that is transferred to other systems, and is converted into other forms of that quantity. In the scientific...
Conservation of Energy in Control Volume01:14

Conservation of Energy in Control Volume

Consider a turbine operating under steady-flow conditions. The control volume is drawn around the turbine, with fluid entering at one point and exiting at another. The turbine extracts energy from the fluid, which performs mechanical work (shaft work).
For steady flow systems, the time derivative of the stored energy becomes zero since there is no energy accumulation within the control volume. This simplifies the energy equation to:
The Carnot Cycle01:30

The Carnot Cycle

Converting work to heat is an irreversible process, and the purpose of a heat engine is to reverse the effect partially. Heat engines aim to increase the efficiency of the reversal, that is, maximize the work retrieved from heat. If the efficiency of a heat engine were 100%, it would imply reversing the process completely without introducing any other effect. Thus, it would violate the second law of thermodynamics.
What could be the theoretical limit to the efficiency of a heat engine? The...
Carnot Cycle and Efficiency01:26

Carnot Cycle and Efficiency

The Second Law of Thermodynamics asserts that it's impossible for any heat engine to achieve 100% efficiency. While contemplating the maximum possible efficiency, Nicolas Sadi Carnot conceptualized an ideal heat engine. This engine gets its energy from a high-temperature reservoir. It then performs some work and releases the remaining energy into a low-temperature reservoir.The Carnot cycle, named after Sadi Carnot, is fully reversible. The cycle consists of four distinct stages. In the first...
Conservation of Energy: Application01:12

Conservation of Energy: Application

When solving problems using the energy conservation law, the object (system) to be studied should first be identified. Often, in applications of energy conservation, we study more than one body at the same time. Second, identify all forces acting on the object and determine whether each force doing work is conservative. If a non-conservative force (e.g., friction) is doing work, then mechanical energy is not conserved. The system must then be analyzed with non-conservative work. Third, for...