• Title of article

    Stokes integral of economic growth: Calculus and the Solow model

  • Author/Authors

    Jürgen Mimkes، نويسنده ,

  • Issue Information
    روزنامه با شماره پیاپی سال 2010
  • Pages
    12
  • From page
    1665
  • To page
    1676
  • Abstract
    Economic growth depends on capital and labor and two-dimensional calculus has been applied to economic theory. This leads to Riemann and Stokes integrals and to the first and second laws of production and growth. The mathematical structure is the same as in thermodynamics, economic properties may be related to physical terms: capital to energy, production to physical work, GDP per capita to temperature, production function to entropy. This is called econophysics. Production, trade and banking may be compared to motors, heat pumps or refrigerators. The Carnot process of the first law creates two levels in each system: cold and hot in physics; buyer and seller, investor and saver, rich and poor in economics. The efficiency rises with the income difference of rich and poor. The results of econophysics are compared to neoclassical theory.
  • Journal title
    Physica A Statistical Mechanics and its Applications
  • Serial Year
    2010
  • Journal title
    Physica A Statistical Mechanics and its Applications
  • Record number

    873596