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The Impact of Science on Economic Growth and Its Cycles : The Mathematical Dynamics Determined by the Basic Macroeconomic Facts (Paperback)

Author: Aulin, Arvid

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Product Overview

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.


Publisher Springer Verlag
Mfg Part# 9783540647270
SKU 204033535
Format Paperback
ISBN10 3540647279
Release Date 7/17/2012
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