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Evolvodynamics - The Mathematical Theory of Economic Evolution

Wallast, Len H.

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ISBN 10: 3642340555 / ISBN 13: 9783642340550
Editorial: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
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2013. 2013th Edition. Paperback. This book presents an innovative universal macro-economic theory which uses the three principles of Darwinian evolution: variation, inheritance, selection. It details the mathematics behind the theory and their consequences. Num Pages: 279 pages, 23 black & white illustrations, biography. BIC Classification: KCB; KCG. Category: (P) Professional & Vocational. Dimension: 237 x 153 x 16. Weight in Grams: 432. . . . . . Books ship from the US and Ireland. N° de ref. de la librería V9783642340550

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Título: Evolvodynamics - The Mathematical Theory of ...

Editorial: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG

Encuadernación: Soft cover

Condición del libro:New

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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 Author:

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.

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