The Impact of Science on Economic Growth and its Cycles: The Mathematical Dynamics Determined by the Basic Macroeconomic Facts - Lecture Notes in Economics and Mathematical Systems 464 (Paperback)
  • The Impact of Science on Economic Growth and its Cycles: The Mathematical Dynamics Determined by the Basic Macroeconomic Facts - Lecture Notes in Economics and Mathematical Systems 464 (Paperback)
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The Impact of Science on Economic Growth and its Cycles: The Mathematical Dynamics Determined by the Basic Macroeconomic Facts - Lecture Notes in Economics and Mathematical Systems 464 (Paperback)

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Paperback 204 Pages / Published: 17/09/1998
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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.

Publisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
ISBN: 9783540647270
Number of pages: 204
Weight: 341 g
Dimensions: 235 x 155 x 11 mm
Edition: Softcover reprint of the original 1st ed. 199

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