Evolvodynamics - The Mathematical Theory of Economic Evolution: a Coherent Way of Interpreting Time, Scarceness, Value and Economic Growth by Len H. Wallast (Paperback, 2013)
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- DescriptionDissatisfied with the flaws of orthodox ecomics, the author proposes to base ecomic theory on the three principles of Darwinian evolution (variation, inheritance, selection). Pursuing a suggestion of E.T. Jaynes of 1991, the invation is in treating ecomic behavior as chance events of selection. This involves abandoning the methods of mainstream ecomics and to apply instead the methods by which Claude E. Shann analyzed information transport over a stationary channel. As ecomic processes are n-stationary, the author clarifies first how the Shann-system must be reshaped in a system capable to describe ecomic evolution mathematically. As ecomic processes are n-stationary, the author first clarifies how the Shann system must be reshaped into one capable of describing ecomic evolutions mathematically. Deriving the universal relations between input, output, the ecomic 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 ecomics. It should be on the readers list of everyone concerned with the weal and woe of ecomic theorizing.
- Author BiographyLen 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.
- Author(s)Len H. Wallast
- PublisherSpringer-Verlag Berlin and Heidelberg GmbH & Co. KG
- Date of Publication12/03/2013
- SubjectEconomics: Professional & General
- Place of PublicationBerlin
- Country of PublicationGermany
- ImprintSpringer-Verlag Berlin and Heidelberg GmbH & Co. K
- Content Note23 black & white illustrations, biography
- Weight408 g
- Width156 mm
- Height234 mm
- Spine15 mm
- Format DetailsTrade paperback (US)
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