The Foundations Of Non Equilibrium Economics
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The Foundations Of Non Equilibrium Economics
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Author : Sebastian Berger
language : en
Publisher: Routledge
Release Date : 2009-09-10
The Foundations Of Non Equilibrium Economics written by Sebastian Berger and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-09-10 with Business & Economics categories.
This thought-provoking volume presents essays on the foundations of non-equilibrium economics, i.e. the principle of circular cumulative causation (CCC). This work presents empirical research on how the interplay of technology’s increasing returns to scale, institutions, resources, and economic policy leads to virtuous circles of economic growth and development, but also to vicious circles of social and ecological degradation. In particular, evidence is provided for the important role of the "development state" and strategic trade policy, economies of large-scale production in manufacturing, the regional level of development and community-based resource management regimes. While demonstrating CCC’s strength in generating empirical research, the book also provides insights into its philosophical foundations and intellectual history. Several essays trace the roots of this full-fledged theoretical framework back to Adam Smith, Classical Political Economy, Thorstein Veblen, Gunnar Myrdal, K. William Kapp and Nicholas Kaldor. As the most comprehensive collection of the growing body of CCC research to date, this book also reflects the emergence of an economic paradigm for understanding economic dynamics and for crafting viable development strategies for the 21st century. The volume will be of great interest to scholars of growth and development economics, institutional and evolutionary economics, political economy, and Post Keynesian economics from undergraduate to postgraduate research levels.
The New Value Controversy And The Foundations Of Economics
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Author : Alan Freeman
language : en
Publisher: Edward Elgar Publishing
Release Date : 2004-02-25
The New Value Controversy And The Foundations Of Economics written by Alan Freeman and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-02-25 with Business & Economics categories.
The papers that comprise this collection introduce key advances in modern value theory. Equilibrium and non-equilibrium approaches are discussed alongside the theory behind abstract labour and money.
Disequilibrium Foundations Of Equilibrium Economics
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Author : Franklin M. Fisher
language : en
Publisher:
Release Date : 1983
Disequilibrium Foundations Of Equilibrium Economics written by Franklin M. Fisher and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983 with Business & Economics categories.
The most common mode of analysis in economic theory is to assume equilibrium. Yet, without a proper theory of how economies behave in disequilibrium, there is no foundation for such a practice. The necessary step in proposing a foundation is the formulation of a theory of stability, and in this 1984 book, Professor Fisher is primarily concerned with this subject, although disequilibrium behavior itself is analyzed. The author first undertakes a review of the existing literature on the stability of general equilibrium. He then proposes a more satisfactory general model in which agents realize their state of disequilibrium and act on arbitrage opportunities. The interrelated topics of the role of money, the nature of quantity constraints, and the optimal behaviour of arbitraging agents are extensively treated.
Foundations Of Nonequilibrium Economic Analysis
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Author : Roy J. Rotheim
language : en
Publisher:
Release Date : 1982
Foundations Of Nonequilibrium Economic Analysis written by Roy J. Rotheim and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with categories.
Economics And Thermodynamics
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Author : Peter Burley
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-03-09
Economics And Thermodynamics written by Peter Burley and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-09 with Business & Economics categories.
Over the past two decades we have witnessed something of a revolution in the natural sciences as thermodynamic thinking evolved from an equilibrium, or 'classical', perspective, to a nonequilibrium, or 'self organisational' one. In this transition, thermodynamics has been applied in new ways and in new fields of inquiry. Chemical and biological (evolutionary) processes have been analysed, increasingly, in non equilibrium thermodynamical terms. Economics has, since the late 19th century, relied heavily upon metaphors and analogies derived from the natural sciences - mechanical analogies cast in terms of traditional Newtonian physics and expressed in terms of Cartesian logic have been especially popular. Thermodynamics, on the other hand, has been less popular, despite its early application in economics by Stanley Jevons, the father of modern notions of utility maximisation in neoclassical economics, and despite its promotion in economic contexts by Paul Samuelson, the author of the definitive treatise upon which post war neoclassical economic theory was based, namely, his Foundations of Economic Analysis. The general neglect of thermodynamic thinking in economics was brought to our attention by Nicholas Georgescu-Roegen in the late 1960s, by which time economic theory, evidenced in, for example, the Arrow Debreu general eqUilibrium system, had become so sophisticated that it could not be penetrated by thermodynamical ideas. To Georgescu Roegen, this presented something of a crisis in economics because neglect of thermodynamics led, in his view, to blindness amongst economists to an economy/environment problem in the global economy.
The Physical Foundation Of Economics
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Author : Jing Chen
language : en
Publisher: World Scientific
Release Date : 2005
The Physical Foundation Of Economics written by Jing Chen and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Social Science categories.
All human activities, including mental activities, are governed by physical laws and are essentially thermodynamic processes. However, current economic theories are not established on these foundations. This pioneering book seeks to develop an analytical theory of economics on the foundation of thermodynamic laws. A unified understanding of economic and social phenomena is presented, an understanding that is much simpler than what mainstream economic theory has to offer. Its aim is to revolutionize thinking in economics and transform social sciences into an integral part of the physical and biological sciences.
Towards The Foundation Of The Theory Of The Non Equilibrium Dissipative Small Scale Turbulence And The Tolerance Theory Related With The Quality Control
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Author : Sergey Victorovich Simonenko
language : en
Publisher:
Release Date : 2005
Towards The Foundation Of The Theory Of The Non Equilibrium Dissipative Small Scale Turbulence And The Tolerance Theory Related With The Quality Control written by Sergey Victorovich Simonenko and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
Foundations Of Nonequilibrium Economic Analysis
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Author : Roy Jeffrey Rotheim
language : en
Publisher:
Release Date : 1977
Foundations Of Nonequilibrium Economic Analysis written by Roy Jeffrey Rotheim and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1977 with Equilibrium (Economics) categories.
General Equilibrium Models Of Monetary Economies
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Author : Ross M. Starr
language : en
Publisher: Academic Press
Release Date : 2014-05-10
General Equilibrium Models Of Monetary Economies written by Ross M. Starr and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-10 with Business & Economics categories.
General Equilibrium Models of Monetary Economies: Studies in the Static Foundations of Monetary Theory is a collection of essays that addresses the integration of the theory of money and the theory of value by using a mathematical general equilibrium theory. The papers discuss monetary theory, microeconomic theory, bilateral trade, transactions costs, intertemporal allocation, and the value of money. The Arrow-Debreu model of Walrasian general equilibrium theory provides a framework to represent money as a device for facilitating trade among economic agents without the use of money as a medium of exchange and as a store of value. The essays analyze the rationale for using a medium of exchange, for using a store of value, and for holding of idle balances in equilibrium. The essays show that by explicit modeling of the structure and difficulties of trade, a powerful class of models which deny money and finance a role in the economy, has by itself shown to have provided the foundation for the structures of trade. The collection will prove helpful for economists, statistician, mathematicians, students or professors of economics and business.
Marx And Non Equilibrium Economics
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Author : Alan Freeman
language : en
Publisher: Edward Elgar Publishing
Release Date : 1996
Marx And Non Equilibrium Economics written by Alan Freeman and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
A equilibrium-free political economy based on the labour theory of value is developed in this volume which brings together authors who have worked in this framework for the last ten years.