Evolvodynamics - The Mathematical Theory of Economic Evolution A Coherent Way of Interpreting Time, Scarceness, Value and Economic Growth /

• Main Author: Wallast, Len H. (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic
• Language: English
• Published: Berlin, Heidelberg : Springer Berlin Heidelberg : Imprint: Springer, 2013.
• Series: Lecture Notes in Economics and Mathematical Systems, 665
• Subjects: Economics.; Mathematics.; Physics.; Engineering.; Endogenous growth (Economics).; Macroeconomics.; Economics/Management Science.; Economic Growth.; Economic Theory.; Socio- and Econophysics, Population and Evolutionary Models.; Macroeconomics/Monetary Economics.; Game Theory, Economics, Social and Behav. Sciences.; Complexity.
• Online Access: https://ezaccess.library.uitm.edu.my/login?url=http://dx.doi.org/10.1007/978-3-642-34056-7

Dissatisfied with the flaws of orthodox economics, the author proposes to base economic theory on the three principles of Darwinian evolution (variation, inheritance, selection). Pursuing a suggestion of E.T. Jaynes of 1991, the innovation is in treating economic behavior as chance events of selecti...

Table of Contents:

• Darwin- and Shannon-Inspired Dynamic Economic Selection
• Sets of Entropy, Selection, Venn Diagrams and Bitpulses
• The Road from Generalized Darwinism to Evolvodynamics
• Exchange and the Circulation of Entropy
• The Interpretation of the Economic Variables
• Money and Liquidity, Time, Work and Effectiveness
• Calculation
• Theory and Confirmation
• Appendices.