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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) Loot Price: R1,499

Discovery Miles 14 990

Repayment Terms: R140 pm x 12*

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The Impact of Science on Economic Growth and its Cycles - The Mathematical Dynamics Determined by the Basic Macroeconomic Facts...

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)

Arvid Aulin

Series: Lecture Notes in Economics and Mathematical Systems, 464

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Loot Price R1,499 Discovery Miles 14 990 | Repayment Terms: R140 pm x 12*

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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 Promotions
LSN:	3-540-64727-9
Barcode:	9783540647270