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The Impact of Science on Economic Growth and its Cycles

The Mathematical Dynamics Determined by the Basic Macroeconomic Facts

  • Arvid Aulin

Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 464)

Table of contents

  1. Front Matter
    Pages I-IX
  2. The Macroeconomic Problem

    1. Arvid Aulin
      Pages 1-11
  3. The Fundamental Laws of Science-Based Economic Growth

    1. Front Matter
      Pages 13-13
    2. Arvid Aulin
      Pages 15-34
  4. Derivation of the 17 Basic Macroeconomic Facts from the Canonical Formalism

  5. Back Matter
    Pages 196-206

About this book

Introduction

The author shows that the enormous gap between theory and facts in modern macroeconomics can only be eliminated by nonlinear macroeconomic dynamics with the following special characteristics: First of all, only certain group-theoretical invariants generate the correct growth cycles with irregularly varying lengths, not any stochastic process as usually applied for this purpose. Furthermore, a special extended value function and generalized human capital are needed for a correct representation of scientific and technological innovation. Finally, the correct nonlinear macroeconomic dynamics are not reducible to microeconomics, for both of the above mentioned reasons.

Keywords

Business Cycle Theory Growth Theory Konjunkturtheorie Macroeconomics Makroökonomik Nichtlineare Dynamik Nonlinear Dynamics Wachstumstheorie economic growth growth

Authors and affiliations

  • Arvid Aulin
    • 1
  1. 1.The Finnish Academy of Science and LettersHelsinkiFinland

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-642-95861-8
  • Copyright Information Springer-Verlag Berlin Heidelberg 1998
  • Publisher Name Springer, Berlin, Heidelberg
  • eBook Packages Springer Book Archive
  • Print ISBN 978-3-540-64727-0
  • Online ISBN 978-3-642-95861-8
  • Series Print ISSN 0075-8442
  • Buy this book on publisher's site
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