| The Impact of Science on Economic Growth and Its Cycles: The Mathematical Dynamics Determined by the Basic Macroeconomic Facts Softcover Repri Edition Contributor(s): Aulin, Arvid (Author) |
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ISBN: 3540647279 ISBN-13: 9783540647270 Publisher: Springer OUR PRICE: $52.24 Product Type: Paperback Published: September 1998 |
| Additional Information |
| BISAC Categories: - Business & Economics | Development - Economic Development - Business & Economics | Economics - General |
| Dewey: 338.9 |
| LCCN: 98029077 |
| Series: Lecture Notes in Economic and Mathematical Systems |
| Physical Information: 0.46" H x 6.14" W x 9.21" (0.69 lbs) 204 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: 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. |