Nontrivial bookkeeping: a mechanical perspective

Robert Fischer and Dieter Braun

Physica A: Statistical Mechanics and its Applications, 2003, vol. 324, issue 1, 266-271

Abstract: Although economic practice is measured by bookkeeping, economic theory neglects its role. We want to bridge this gap. We analyze the structure of bookkeeping from a mechanical viewpoint and compare money with momentum. Bookkeeping and income statements translate to the physicist vocabulary of momentum, energy and force. Financial transactions become Feynman-graphs. Although the realization principle enforces conservation of momentum in each currency, no conservation of energy is implemented by bookkeeping. We discuss the transaction axiomatics of bookkeeping from this physical viewpoint.

Keywords: Double entry bookkeeping; Feynmann-graph; Money (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:324:y:2003:i:1:p:266-271

DOI: 10.1016/S0378-4371(02)01856-3

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