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Evolvodynamics - The Mathematical Theory of Economic Evolution: A Coherent Way of Interpreting Time, Scarceness, Value and Economic Growth (Lecture Notes in Economics and Mathematical Systems, nr. 665)

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en Limba Engleză Paperback – 23 Mar 2013
​Innovative universal macro-economic theory that avoids the flaws of orthodox economic theory Provides for consistent dynamic explanation of many observed economic phenomena Bridges the gap between biologic and economic evolution Step by step approach to explain the mathematics and the consequences to which the mathematical results lead​ ​​Dissatisfied with the flaws of orthodox economics, the author proposes to base economic theory on the three principles of Darwinian evolution (variation, inheritance, selection). Pursuing a suggestion of E.T. Jaynes of 1991, the innovation is in treating economic behavior as chance events of selection. This involves abandoning the methods of mainstream economics and to apply instead the methods by which Claude E. Shannon analyzed information transport over a stationary channel. As economic processes are non-stationary, the author clarifies first how the Shannon-system must be reshaped in a system capable to describe economic evolution mathematically. As economic processes are non-stationary, the author first clarifies how the Shannon system must be reshaped into one capable of describing economic evolutions mathematically. Deriving the universal relations between input, output, the economic growth rate, inflation and money flow involves applying differential sets of selection, Venn diagrams, bitpulses as units of selection and the probability distributions of bitpulses. This is a thought-provocative and highly informative book of which the explanatory power goes far beyond that of traditional economics. It should be on the readers list of everyone concerned with the weal and woe of economic theorizing.
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Specificații

ISBN-13: 9783642340550
ISBN-10: 3642340555
Pagini: 288
Dimensiuni: 155 x 235 x 15 mm
Greutate: 0.43 kg
Ediția: 2013
Editura: Springer
Colecția Springer
Seria Lecture Notes in Economics and Mathematical Systems

Locul publicării: Berlin, Heidelberg, Germany

Public țintă

Research

Cuprins

Darwin- and Shannon-Inspired Dynamic Economic Selection.- Sets of Entropy, Selection, Venn Diagrams and Bitpulses.- The Road from Generalized Darwinism to Evolvodynamics.- Exchange and the Circulation of Entropy.- The Interpretation of the Economic Variables.- Money and Liquidity, Time, Work and Effectiveness.- Calculation.- Theory and Confirmation.- Appendices.

Notă biografică

Len Wallast graduated from Delft University in Communication Engineering and became soon involved in fundamental research in that domain. He is an expert in communication/information theory and time series analysis and managed a mathematics department at Royal Philips. After he graduated with distinction at Rotterdam Erasmus University in economics he led a middle sized accounting firm bearing his name. He kept combining his business orientation with an intense scientific commitment to the theory of macro-economics. He surmised a narrow relationship between Darwinian evolutionary principles, macro-economics and Shannon’s communication theory at an early stage already many years ago. The concrete shape of this lifelong enterprise that involves the abandonment and trade-in of the methods of mainstream economics for the applied mathematical methods of the kind Shannon employed is reflected in the present work.

Textul de pe ultima copertă

​​Dissatisfied with the flaws of orthodox economics, the author proposes to base economic theory on the three principles of Darwinian evolution (variation, inheritance, selection). Pursuing a suggestion of E.T. Jaynes of 1991, the innovation is in treating economic behavior as chance events of selection. This involves abandoning the methods of mainstream economics and to apply instead the methods by which Claude E. Shannon analyzed information transport over a stationary channel. As economic processes are non-stationary, the author clarifies first how the Shannon-system must be reshaped in a system capable to describe economic evolution mathematically. As economic processes are non-stationary, the author first clarifies how the Shannon system must be reshaped into one capable of describing economic evolutions mathematically. Deriving the universal relations between input, output, the economic growth rate, inflation and money flow involves applying differential sets of selection, Venn diagrams, bitpulses as units of selection and the probability distributions of  bitpulses. This is a thought-provocative and highly informative book of which the explanatory power goes far beyond that of traditional economics. It should be on the readers list of everyone concerned with the weal and woe of economic theorizing.

Caracteristici

​Innovative universal macro-economic theory that avoids the flaws of orthodox economic theory
Provides for consistent dynamic explanation of many observed economic phenomena
Bridges the gap between biologic and economic evolution
Step by step approach to explain the mathematics and the consequences to which the mathematical results lead​