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The Impact of Science on Economic Growth and its Cycles: The Mathematical Dynamics Determined by the Basic Macroeconomic Facts

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

£88.00
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Synopsis

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.

BusinessEconomicsMacroeconomicsBusinessEconomicsPolitical economy Publisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Publication Date: 17/09/1998 ISBN-13: 9783540647270  Details: Type: Paperback Format: Books
Availability: Printed to order. Despatched in 2-3 weeks.  

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