Springer eBooks may be purchased by end-customers only and are sold without copy protection (DRM free). Instead, all eBooks include personalized watermarks. This means you can read the Springer eBooks across numerous devices such as Laptops, eReaders, and tablets.
You can pay for Springer eBooks with Visa, Mastercard, American Express or Paypal.
After the purchase you can directly download the eBook file or read it online in our Springer eBook Reader. Furthermore your eBook will be stored in your MySpringer account. So you can always re-download your eBooks.
Innovative universal macro-economic theory that avoids the flaws of orthodox economic theory
Provides for consistent dynamic explanation of many observed economic phenomena
Bridges the gap between biologic and economic evolution
Step by step approach to explain the mathematics and the consequences to which the mathematical results lead
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 selection. This involves abandoning the methods of mainstream economics and to apply instead the methods by which Claude E. Shannon analyzed information transport over a stationary channel. As economic processes are non-stationary, the author clarifies first how the Shannon-system must be reshaped in a system capable to describe economic evolution mathematically. As economic processes are non-stationary, the author first clarifies how the Shannon system must be reshaped into one capable of describing economic evolutions mathematically. Deriving the universal relations between input, output, the economic growth rate, inflation and money flow involves applying differential sets of selection, Venn diagrams, bitpulses as units of selection and the probability distributions of bitpulses. This is a thought-provocative and highly informative book of which the explanatory power goes far beyond that of traditional economics. It should be on the readers list of everyone concerned with the weal and woe of economic theorizing.
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.