Ebook Download Energy of Human Action

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Energy of Human Action High quality books

Energy of Human Action
By:Sayan Kombarov
Published on 2019-11-04 by

The book introduces the principle of Least Action of classical mechanics into Economics. Building on ideas developed by Ludwig von Mises and other prominent economists, such as Adam Smith, David Ricardo, John Stuart Mill, Frederick Bastiat and Friedrich Hayek, the author proposes in mathematical terms, as the time differential of quantity of goods and services, the fundamental law of value or price, which he proposes to name |The Mises's Law of Value|. Mises's Law of Value is the main microeconomic law. The author proves that every commodity and service is money and that economic value is equal to the velocity of money circulation. The book mathematically proves the laws of the free market, supply and demand, discusses Say's Law of Markets, Cantillon's law. The mathematical expression of interest rate as the function of prices, productivity of capital and time. Explanation of Alfred Gibson's paradox. Prove that both money and their time value are non-monetary phenomena. Formulation of the principle of least action in economics in the integral form as the macroeconomic principle that governs economic development and the law of exchange. Application of the principle of least action to prove the law of diminishing marginal utility and the production learning function. Discussion of the suitability of the Gross Domestic Product (GDP) model as the main indicator of economic growth and social well-being. Critique of Keynesian economic theory. Theory of Liquidity Trap and Boom-bust cycle. Calculation of changes in GDP as the sum of all economic exchanges. Critique of Friedman's monetary rule. Derivation of normal Gauss probability function and risk. The uncertainty principle and subjective value. The analogy of economic laws with the laws of Quantum mechanics, such as Einstein-Planсk's and de Broglie's formulas. Critique of index numbers. Application of the proposed mathematical model of economics to explain Franco Modigliani household savings theory, the Prospect Theory, Big Data and Information theory, Game Theory and Nash Equilibria and Bounded Rationality.

This Book was ranked at 40 by Google Books for keyword Gibson's paradox.

Book ID of Energy of Human Action's Books is 7y3bywEACAAJ, Book which was written bySayan Kombarovhave ETAG "3jS47alkz5E"

Book which was published by since 2019-11-04 have ISBNs, ISBN 13 Code is 9781520252261 and ISBN 10 Code is 1520252269

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Book which have "269 Pages" is Printed at BOOK under Category

This Book was rated by Raters and have average rate at ""

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