Lecture Notes in Economics and Mathematical Systems

Evolvodynamics - The Mathematical Theory of Economic Evolution

A Coherent Way of Interpreting Time, Scarceness, Value and Economic Growth

Authors: Wallast, Len H.

  • ​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​
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eBook $69.99
price for USA (gross)
  • ISBN 978-3-642-34056-7
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Softcover $89.99
price for USA
valid through November 5, 2017
  • ISBN 978-3-642-34055-0
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

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.

About the authors

Len Wallast graduated from Delft University in Communication Engineering and became soon involved in fundamental research in that domain. He is an expert in communication/information theory and time series analysis and managed a mathematics department at Royal Philips. After he graduated with distinction at Rotterdam Erasmus University in economics he led a middle sized accounting firm bearing his name. He kept combining his business orientation with an intense scientific commitment to the theory of macro-economics. He surmised a narrow relationship between Darwinian evolutionary principles, macro-economics and Shannon’s communication theory at an early stage already many years ago. The concrete shape of this lifelong enterprise that involves the abandonment and trade-in of the methods of mainstream economics for the applied mathematical methods of the kind Shannon employed is reflected in the present work.

Table of contents (9 chapters)

  • Darwin- and Shannon-Inspired Dynamic Economic Selection

    Wallast, Len H.

    Pages 1-27

  • Sets of Entropy, Selection, Venn Diagrams and Bitpulses

    Wallast, Len H.

    Pages 29-64

  • The Road from Generalized Darwinism to Evolvodynamics

    Wallast, Len H.

    Pages 65-83

  • Blind and Purposeful Selection

    Wallast, Len H.

    Pages 85-112

  • Exchange and the Circulation of Entropy

    Wallast, Len H.

    Pages 113-145

Buy this book

eBook $69.99
price for USA (gross)
  • ISBN 978-3-642-34056-7
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover $89.99
price for USA
valid through November 5, 2017
  • ISBN 978-3-642-34055-0
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Evolvodynamics - The Mathematical Theory of Economic Evolution
Book Subtitle
A Coherent Way of Interpreting Time, Scarceness, Value and Economic Growth
Authors
Series Title
Lecture Notes in Economics and Mathematical Systems
Series Volume
665
Copyright
2013
Publisher
Springer-Verlag Berlin Heidelberg
Copyright Holder
Springer-Verlag Berlin Heidelberg
eBook ISBN
978-3-642-34056-7
DOI
10.1007/978-3-642-34056-7
Softcover ISBN
978-3-642-34055-0
Series ISSN
0075-8442
Edition Number
1
Number of Pages
VIII, 279
Number of Illustrations and Tables
23 b/w illustrations
Topics