The Impact of Science on Economic Growth and its Cycles - The Mathematical Dynamics Determined by the Basic Macroeconomic Facts (Paperback, Softcover reprint of the original 1st ed. 1998)

The author shows that the enormous gap between theory and facts in modern macroeconomics can only be eliminated by nonlinear macroeconomic dynamics with the following special characteristics: First of all, only certain group-theoretical invariants generate the correct growth cycles with irregularly varying lengths, not any stochastic process as usually applied for this purpose. Furthermore, a special extended value function and generalized human capital are needed for a correct representation of scientific and technological innovation. Finally, the correct nonlinear macroeconomic dynamics are not reducible to microeconomics, for both of the above mentioned reasons.

General

Imprint:	Springer-Verlag
Country of origin:	Germany
Series:	Lecture Notes in Economics and Mathematical Systems, 464
Release date:	2001
First published:	1998
Authors:	Arvid Aulin
Dimensions:	235 x 155 x 11mm (L x W x T)
Format:	Paperback
Pages:	204
Edition:	Softcover reprint of the original 1st ed. 1998
ISBN-13:	978-3-540-64727-0
Categories:	Books > Business & Economics > Economics > Political economy Books > Business & Economics > Economics > Macroeconomics > General
LSN:	3-540-64727-9
Barcode:	9783540647270

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