scholarly journals Dimensional Analysis in Economics: A Study of the Neoclassical Economic Growth Model

2019 ◽  
Vol 32 (2) ◽  
pp. 123-144 ◽  
Author(s):  
Miguel Alvarez Texocotitla ◽  
M. David Alvarez-Hernández ◽  
Shaní Eneida Alvarez-Hernández
Keyword(s):  
Economic Growth ◽  
Economic Theory ◽  
Dimensional Analysis ◽  
Growth Model ◽  
Neoclassical Economic ◽  
Basic Principles ◽  
Economic Growth Model ◽  
Research Article ◽  
Neoclassical Economic Theory ◽  
Dimensional Homogeneity

The fundamental purpose of the present research article is to introduce the basic principles of dimensional analysis in the context of the neoclassical economic theory, in order to apply such principles to the fundamental relations that underlay most models of economic growth. In particular, basic instruments from dimensional analysis are used to evaluate the analytical consistency of the neoclassical economic growth model. The analysis shows that an adjustment to the model is required in such a way that the principle of dimensional homogeneity is satisfied. JEL: A12, C02, C65, O40

scholarly journals Generalizations of the Lagrange mean value theorem and applications

Filomat ◽  
2013 ◽  
Vol 27 (4) ◽  
pp. 515-528 ◽  
Author(s):  
Miodrag Mateljevic ◽  
Marek Svetlik ◽  
Miloljub Albijanic ◽  
Nebojsa Savic
Keyword(s):  
Economic Growth ◽  
Growth Model ◽  
Arbitrary Function ◽  
Mean Value ◽  
Point Of View ◽  
Neoclassical Economic ◽  
Mean Value Theorem ◽  
Mathematical Point ◽  
Economic Growth Model

In this paper we give a generalization of the Lagrange mean value theorem via lower and upper derivative, as well as appropriate criteria of monotonicity and convexity for arbitrary function f : (a, b) ( R. Some applications to the neoclassical economic growth model are given (from mathematical point of view).

scholarly journals La Economía del Estado Estacionario: ¿El único camino hacia un futuro sostenible?

2010 ◽  
Vol 27 (46) ◽  
pp. 71
Author(s):  
Christian Kerschner
Keyword(s):  
Economic Growth ◽  
Economic Theory ◽  
Sustainable Development ◽  
Natural Capital ◽  
Classical Mechanics ◽  
Weak Sense ◽  
Neoclassical Economic ◽  
A Value ◽  
Neoclassical Economic Theory ◽  
Value Concept

Los economistas ecológicos (p.ej.: Herman Daly) dicen que el desarrollo sostenible solo puede alcanzarse mediante un drástico cambio en nuestro sistema económico basado en el crecimiento. El crecimiento  económico  continuo siendo éste el objetivo de cualquier gobierno, es inherentemente incompatible con el desarrollo sostenible, a menos que el desarrollo sostenible sea definido de forma débil; es decir aceptando sustituibilidad entre capital producido por el hombre y capital natural. Esto ya se lleva actualmente a cabo por la teoría económica neoclásica, las raíces de la cual se encuentran en el concepto del valor, análogo al principio de conservación de la mecánica clásica. Algunos autores esgrimen que es este concepto del valor, combinado con la panacea del progreso tecnológico, lo que permite a la  teoría económica neoclásica creer en un crecimiento económico ilimitado.ABSTRACTEcological Economists (e.g.: Herman Daly) claim that sustainable development can only be achieved by drastically changing our growth based economic system. Continuous economic growth, which is the goal of every government, is inherently incompatible with sustainable development, unless sustainable development is defined in a weak sense; that is as accepting substitutability between human made and natural capital. This is currently done by neoclassical economic theory, the roots of which are based on a value concept, analogous with the conservation principle of classical mechanics. Some authors argue that it is this value concept combined with the panacea of technological progress, which allows neoclassical economic theory to believe in unlimited economic growth.

scholarly journals A Discrete Two-Sector Economic Growth Model

2007 ◽  
Vol 2007 ◽  
pp. 1-13
Author(s):  
Wei-Bin Zhang
Keyword(s):  
Economic Growth ◽  
Economic Theory ◽  
Utility Function ◽  
Growth Model ◽  
Stable Equilibrium ◽  
Production Functions ◽  
Economic Growth Model

This paper studies a key model in economic theory—the two-sector growth model—with an alternative utility function. We show that the system has a unique stable equilibrium when the production functions take on the Cobb-Douglas form. We also simulate the model and demonstrate effects of changes in some parameters.

IRVING FISHER AND THE MECHANISTIC CHARACTER OF TWENTIETH CENTURY ACCOUNTING THOUGHT

1995 ◽  
Vol 22 (2) ◽  
pp. 43-83 ◽  
Author(s):  
Tom Mouck
Keyword(s):  
Economic Theory ◽  
Twentieth Century ◽  
World View ◽  
Neoclassical Economic ◽  
Neoclassical Economics ◽  
Newtonian Mechanics ◽  
Neoclassical Economic Theory

This paper provides an overview of the influence of Newtonian mechanics on the development of neoclassical economic theory and highlights Fisher's role in the popularization of the resulting mechanical conception of economics. The paper also portrays Fisher's The Nature of Capital and Income — a work which has been aptly characterized as the “first economic theory of accounting” — as the first move toward the colonization of accounting by economics. The result of Fisher's influence has been a paradigmatic linkage between the Newtonian world view of science, neoclassical economics, and mainstream academic accounting thought. The picture that emerges from this linkage is then used as a backdrop against which the emerging challenges to economics-based accounting thought are highlighted.

Dynamic analysis in an economic growth model with CES utility function and delay

2020 ◽  
Author(s):  
Ramona Ioana Oprea ◽  
Pater Flavius ◽  
Adina Juratoni ◽  
Olivia Bundau
Keyword(s):  
Economic Growth ◽  
Dynamic Analysis ◽  
Utility Function ◽  
Growth Model ◽  
Economic Growth Model ◽  
Ces Utility Function
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