Sale!

The Unity of Science and Economics A New Foundation of Economic Theory 1st Edition by Jing Chen ISBN 9781493934669 149393466X

Name: The Unity of Science and Economics A New Foundation of Economic Theory 1st Edition by Jing Chen ISBN 9781493934669 149393466X
SKU: EB-5353432
Availability: InStock

Original price was: $50.00.Current price is: $25.00.

The Unity of Science and Economics A New Foundation of Economic Theory 1st Edition Jing Chen (Auth.) Digital Instant Download

Author(s): Jing Chen (auth.)

ISBN(s): 9781493934645, 9781493934669, 1493934643, 149393466X

Edition: 1

File Details: PDF, 1.38 MB

Year: 2016

Language: English

SKU: EB-5353432 Category: Science (General) Tag: Jing Chen (auth.)

Description

The Unity of Science and Economics A New Foundation of Economic Theory 1st Edition by Jing Chen – Ebook PDF Instant Download/Delivery: 9781493934669 ,149393466X
Full download The Unity of Science and Economics A New Foundation of Economic Theory 1st Edition after payment

Product details:
ISBN 10: 149393466X
ISBN 13: 9781493934669
Author: Jing Chen

This book presents a new economic theory developed from physical and biological principles. It explains how technology, social systems and economic values are intimately related to resources. Many people have recognized that mainstream (neoclassical) economic theories are not consistent with physical laws and often not consistent with empirical patterns, but most feel that economic activities are too complex to be described by a simple and coherent mathematical theory. While social systems are indeed complex, all life systems, including social systems, satisfy two principles. First, all systems need to extract resources from the external environment to compensate for their consumption. Second, for a system to be viable, the amount of resource extraction has to be no less than the level of consumption. From these two principles, we derive a quantitative theory of major factors in economic activities, such as fixed cost, variable cost, discount rate, uncertainty and duration. The mathematical theory enables us to systematically measure the effectiveness of different policies and institutional structures at varying levels of resource abundance and cost. The theory presented in this book shows that there do not exist universally optimal policies or institutional structures. Instead, the impacts of different policies or social structures have to be measured within the context of existing levels of resource abundance. As the physical costs of extracting resources rise steadily, many policy assumptions adopted in mainstream economic theories, and workable in times of cheap and abundant energy supplies and other resources, need to be reconsidered. In this rapidly changing world, the theory presented here provides a solid foundation for examining the long-term impacts of today’s policy decisions.

The Unity of Science and Economics A New Foundation of Economic Theory 1st Edition Table of contents:

1 Major Factors in Biological and Social Systems

1.1 A Common Measure of Performance

1.2 The Necessity of Fixed Costs

1.3 Lifespans of Organisms and Investment Projects

1.4 Uncertainty

1.5 Discount Rate

1.6 The Volume of Output, Market Size and Abundance of Resources

1.7 On Demand and Supply

1.8 Concluding Remarks

2 Resource and Technology

2.1 The Importance of Natural Resources

2.2 Natural Resources: Diverse Forms and Unifying Principle

2.3 Living Systems: Positive Return Technologies of Utilizing Resources

2.4 Human Technologies and Human Societies

2.4.1 The Use of Fire and Cooking

2.4.2 High Resource Density, Sedentary Lifestyle and Agriculture

2.4.3 Bronze Age, Iron Age and the Dark Age

2.4.4 Coal, Iron and the Industrial Revolution

2.4.5 The Age of Oil: The Great Depression, Oil Crises, and the Great Recession

2.5 On Inequality

2.6 Carbon and Hydrogen as Energy Sources

2.7 Some Patterns in Energy Economics

2.8 On the Concept of Renewable Energy

2.9 Concluding Remarks

3 Production: A Mathematical Theory

3.1 A Historic Review of Related Ideas and Mathematical Techniques

3.2 A Mathematical Theory of Production

3.3 Several Numerical Examples

3.3.1 Economy of Scale and the Law of Diminishing Return

3.3.2 Increasing Fixed Cost to Reduce Uncertainty

3.3.3 Resource Quality and Investment Patterns

3.4 Monetary Policies and Business Cycles

3.5 Equilibrium and Non-equilibrium Theory

3.6 Physics, Mathematics and Predictability

3.7 Concluding Remarks

4 Languages and Cultures: An Economic Analysis

4.1 Introduction

4.2 An Application to Cultural Analysis

4.3 The Evolutionary Patterns of Languages

4.4 Concluding Remarks

5 The Entropy Theory of Mind

5.1 Introduction

5.2 Main Properties of the Entropy Theory of Mind

5.3 The Concept of Entropy: A Reflection

5.4 An Introduction of Entropy Theory of Information

5.5 Learning and Psychological Patterns as Means of Reducing the Cost of Information Processing

5.6 Value and Bias of Judgment

5.7 Value of Judgment, Investors’ Trading Decisions, and Expected Rate of Return of Portfolios

5.8 An Application to Behavioral Finance

5.9 Concluding Remarks

6 The Entropy Theory of Value: A Mathematical Theory

6.1 Introduction

6.2 Main Properties

6.3 Economic Value, Physical Entropy and Subjective Utility

6.4 The Entropy Theory of Value and Information

6.5 Economic Value and Social Welfare

6.6 Concluding Remarks

Epilogue: Pioneer Species and Climax Species

People also search for The Unity of Science and Economics A New Foundation of Economic Theory 1st Edition:

the art and science of economic analysis

the science of economics

the unity of knowledge

economics unit 1 and 2

Tags:

Jing Chen,Unity,Economics,New Foundation

Sign up for Newsletter

The Unity of Science and Economics A New Foundation of Economic Theory 1st Edition by Jing Chen ISBN 9781493934669 149393466X

Tags:

You may also like…

Sign up for Newsletter

The Unity of Science and Economics A New Foundation of Economic Theory 1st Edition by Jing Chen ISBN 9781493934669 149393466X

Tags:

You may also like…

Login