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Symmetry and Economic Invariance pp 87–105Cite as

Dynamics and Conservation Laws

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Part of the book series: Advances in Japanese Business and Economics ((AJBE,volume 1))

Abstract

In dynamic analysis, we examine the movements of a system over time. From the infancy of their science, economists were interested in the microeconomic and macroeconomic adjustment processes. As for long-term trends, classical economists assumed that would tend towards a stationary state. Modern growth theory, as developed in the second half of this century, indicated the possibility of a non-stationary equilibrium and provided strong impetus to appropriate and adopt for study of economic dynamics the mathematical tools developed in physical sciences.

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Authors and Affiliations

  1. Stern School of Business, New York University, New York, USA

    Ryuzo Sato

  2. Pebble Brook Lane, Plano, Texas, USA

    Rama V. Ramachandran

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  1. Ryuzo Sato
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Sato, R., Ramachandran, R.V. (2014). Dynamics and Conservation Laws. In: Symmetry and Economic Invariance. Advances in Japanese Business and Economics, vol 1. Springer, Tokyo. https://doi.org/10.1007/978-4-431-54430-2_7

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