Economic system dynamics

Joseph McCauley () and Cornelia M. Küffner

MPRA Paper from University Library of Munich, Germany

Abstract: We provide the reader with a qualitative summary of the main ideas from econophysics and finance theory, starting with a thorough criticism of the standard ideas taught in typical economics textbooks. The emphasis is on the Galilean or physicists' approach to market synamics, as opposed to the standard nonempirical postulatory one.

Keywords: Utility; equilibrium; supply and demand curves; business cycles; market dynamics (search for similar items in EconPapers)
JEL-codes: A2 B4 D5 (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:2158

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