College of Mining, National University of Science and Technology — MISIS:

Puchkov L. A. Corresponding member of RAS, Professor, Doctor of Engineering Sciences, Director of the Center for Strategic Research, Professor of the Department of Mine Aerology, Safety and Rescue

Econophysics considers economy from the viewpoint of the laws of physics. In this case, it is important to operate such parameters of economy that actually have physical sense, rather than to deal with physical analogs of the economy parameters. This paper considers global energy consumption in economy as a physical process obeying the fundamental laws of physics—the law of least action and the law of conservation of mass and energy. It is shown that the law of least action is actualized in optimizing real global energy consumption (GEC) based on minimum values. The optimal function is described by a straight-line relationship. It sets the required level of GEC for the normal development of economy. Surpassing of this level initiates crunches. Inception of a global crisis conforms with the excess of the optimum level by 12.5%. The GEC level of 12.5% was reached in 2013, and the world economy fell under crisis after that. The law of conservation of mass and energy is described as a straight-linear relationship of GEC and the world population size converted to biological mass of civilization by multiplication by a mass of an individual. The linear plots of GEC versus time and population are consistent with the known hyperbolic law of the world population growth. The constant of the law of conservation is the specific energy consumption per capita, equaling 1.56 t of oil equivalent per capita per year. This constant is unaltered for the entire historical period of human development. Not to speak of the fundamental importance, the found relationships of GEC enable calculating all parameters of the world crises and, in particular, the characteristics of the current recession. These parameters are described in the paper.

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