The Unity of Science and Economics (eBook)

A New Foundation of Economic Theory

(Autor)

eBook Download: PDF
2015 | 1st ed. 2016
XVI, 136 Seiten
Springer New York (Verlag)
978-1-4939-3466-9 (ISBN)

Lese- und Medienproben

The Unity of Science and Economics - Jing Chen
Systemvoraussetzungen
74,89 inkl. MwSt
  • Download sofort lieferbar
  • Zahlungsarten anzeigen
This book presents a new economic theory developed from physical and biological principles. It explains how technology, social systems and economic values are intimately related to resources. Many people have recognized that mainstream (neoclassical) economic theories are not consistent with physical laws and often not consistent with empirical patterns, but most feel that economic activities are too complex to be described by a simple and coherent mathematical theory. While social systems are indeed complex, all life systems, including social systems, satisfy two principles. First, all systems need to extract resources from the external environment to compensate for their consumption. Second, for a system to be viable, the amount of resource extraction has to be no less than the level of consumption. From these two principles, we derive a quantitative theory of major factors in economic activities, such as fixed cost, variable cost, discount rate, uncertainty and duration. The mathematical theory enables us to systematically measure the effectiveness of different policies and institutional structures at varying levels of resource abundance and cost.
The theory presented in this book shows that there do not exist universally optimal policies or institutional structures. Instead, the impacts of different policies or social structures have to be measured within the context of existing levels of resource abundance. As the physical costs of extracting resources rise steadily, many policy assumptions adopted in mainstream economic theories, and workable in times of cheap and abundant energy supplies and other resources, need to be reconsidered. In this rapidly changing world, the theory presented here provides a solid foundation for examining the long-term impacts of today's policy decisions.

This book presents a new economic theory developed from physical and biological principles. It explains how technology, social systems and economic values are intimately related to resources. Many people have recognized that mainstream (neoclassical) economic theories are not consistent with physical laws and often not consistent with empirical patterns, but most feel that economic activities are too complex to be described by a simple and coherent mathematical theory. While social systems are indeed complex, all life systems, including social systems, satisfy two principles. First, all systems need to extract resources from the external environment to compensate for their consumption. Second, for a system to be viable, the amount of resource extraction has to be no less than the level of consumption. From these two principles, we derive a quantitative theory of major factors in economic activities, such as fixed cost, variable cost, discount rate, uncertainty and duration. The mathematical theory enables us to systematically measure the effectiveness of different policies and institutional structures at varying levels of resource abundance and cost.The theory presented in this book shows that there do not exist universally optimal policies or institutional structures. Instead, the impacts of different policies or social structures have to be measured within the context of existing levels of resource abundance. As the physical costs of extracting resources rise steadily, many policy assumptions adopted in mainstream economic theories, and workable in times of cheap and abundant energy supplies and other resources, need to be reconsidered. In this rapidly changing world, the theory presented here provides a solid foundation for examining the long-term impacts of today's policy decisions.

Major Factors in Biological and Social Systems.- Resource and Technology.- Production: A Mathematical Theory.- Languages and Cultures: An Economic Analysis.- The Entropy Theory of Mind.- The Entropy Theory of Value: A Mathematical Theory.- Epilogue: Pioneer Species and Climax Species.

Erscheint lt. Verlag 6.11.2015
Zusatzinfo XVI, 136 p.
Verlagsort New York
Sprache englisch
Themenwelt Mathematik / Informatik Informatik Theorie / Studium
Naturwissenschaften Biologie Ökologie / Naturschutz
Naturwissenschaften Physik / Astronomie Theoretische Physik
Naturwissenschaften Physik / Astronomie Thermodynamik
Sozialwissenschaften Soziologie Empirische Sozialforschung
Technik Elektrotechnik / Energietechnik
Wirtschaft Allgemeines / Lexika
Wirtschaft Volkswirtschaftslehre
Schlagworte Data-driven Science, Modeling and Theory Building • Economics of Resource Constraints • Economic Values and Resource Constraints • Entropy Resources Economics • Entropy Theory of Information • Entropy Theory of Value • Mathematical Theory of Production • Physical and Biological Economic Theory • Resource Constraints, New Economic Theory of • Social and Biological Systems, Economic Analysis • Social Systems and Resource Constraints • Technology and Resources
ISBN-10 1-4939-3466-X / 149393466X
ISBN-13 978-1-4939-3466-9 / 9781493934669
Haben Sie eine Frage zum Produkt?
PDFPDF (Wasserzeichen)
Größe: 1,4 MB

DRM: Digitales Wasserzeichen
Dieses eBook enthält ein digitales Wasser­zeichen und ist damit für Sie persona­lisiert. Bei einer missbräuch­lichen Weiter­gabe des eBooks an Dritte ist eine Rück­ver­folgung an die Quelle möglich.

Dateiformat: PDF (Portable Document Format)
Mit einem festen Seiten­layout eignet sich die PDF besonders für Fach­bücher mit Spalten, Tabellen und Abbild­ungen. Eine PDF kann auf fast allen Geräten ange­zeigt werden, ist aber für kleine Displays (Smart­phone, eReader) nur einge­schränkt geeignet.

Systemvoraussetzungen:
PC/Mac: Mit einem PC oder Mac können Sie dieses eBook lesen. Sie benötigen dafür einen PDF-Viewer - z.B. den Adobe Reader oder Adobe Digital Editions.
eReader: Dieses eBook kann mit (fast) allen eBook-Readern gelesen werden. Mit dem amazon-Kindle ist es aber nicht kompatibel.
Smartphone/Tablet: Egal ob Apple oder Android, dieses eBook können Sie lesen. Sie benötigen dafür einen PDF-Viewer - z.B. die kostenlose Adobe Digital Editions-App.

Zusätzliches Feature: Online Lesen
Dieses eBook können Sie zusätzlich zum Download auch online im Webbrowser lesen.

Buying eBooks from abroad
For tax law reasons we can sell eBooks just within Germany and Switzerland. Regrettably we cannot fulfill eBook-orders from other countries.

Mehr entdecken
aus dem Bereich
Discover tactics to decrease churn and expand revenue

von Jeff Mar; Peter Armaly

eBook Download (2024)
Packt Publishing (Verlag)
25,19