Classical Econophysics

Allin F Cottrell author Paul Cockshott author Gregory John Michaelson author Ian P Wright author Victor Yakovenko author

Format:Hardback

Publisher:Taylor & Francis Ltd

Published:22nd May '09

Currently unavailable, and unfortunately no date known when it will be back

This hardback is available in another edition too:

Classical Econophysics cover

This monograph examines the domain of classical political economy using the methodologies developed in recent years both by the new discipline of econo-physics and by computing science. This approach is used to re-examine the classical subdivisions of political economy: production, exchange, distribution and finance.

The book begins by examining the most basic feature of economic life – production – and asks what it is about physical laws that allows production to take place. How is it that human labour is able to modify the world? It looks at the role that information has played in the process of mass production and the extent to which human labour still remains a key resource. The Ricardian labour theory of value is re-examined in the light of econophysics, presenting agent based models in which the Ricardian theory of value appears as an emergent property. The authors present models giving rise to the class distribution of income, and the long term evolution of profit rates in market economies. Money is analysed using tools drawn both from computer science and the recent Chartalist school of financial theory.

Covering a combination of techniques drawn from three areas, classical political economy, theoretical computer science and econophysics, to produce models that deepen our understanding of economic reality, this new title will be of interest to higher level doctoral and research students, as well as scientists working in the field of econophysics.

'A challenging book which sheds further light on the field of econophysics as an interplay among economics, physics, and information theory, reading the past and the present with new analytical tools, and one which uses the past to provide new visions.'-- Nicola De Liso, University of Salento, Italy

ISBN: 9780415478489

Dimensions: unknown

Weight: 870g

384 pages