|Title:||Wealth, Virtual Wealth and Debt: The Solution of the Economic Paradox|
|Publisher:||Britons Publishing Company|
By the Nobel prize-winning chemist Frederick Soddy on monetary policy and society and the role of energy in economic systems. Soddy criticized the focus on monetary flows in economics, arguing that real wealth was derived from the use of energy to transform materials into physical goods and services. Soddy’s economic writings were largely ignored in his time, but would later be applied to the development of ecological economics in the late 20th century.--Wikipedia. [Suggest a different description.]
Author Bio for Soddy, Frederick
Frederick Soddy (1877 to 1956) was awarded the Nobel Prize for Chemistry in 1921 for “his contributions to our knowledge of chemistry of radioactive substances, and his investigations into the origin and nature of isotopes.” Soddy also discovered that elements could exist with different numbers of neutrons. These, at the suggestion of a fellow scientist Margaret Todd, he named isotopes, from the Greek root for ‘same’. Radioactive isotopes form the basis of much nuclear medicine today.
In his book “Science and Life” published in 1920 he identified the importance of isotopes in establishing geological age.
He is also credited for independently discovering the element protactinium in 1917.
Frederick Soddy was actively involved in the Le Play Society which was founded on the ideas of the pioneering French sociologist le Play. Shortly before his death in 1956, feeling that the Society was in decline, Professor Soddy instructed Peter Bunker, a young solicitor, to establish the Frederick Soddy Trust by his will, giving grants to groups studying the whole life of a community.--Paraphrased from https://www.famousscientists.org/frederick-soddy/ and soddy.org.
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