Economic Foundations for Social Complexity Science by Yuji Aruka & Alan Kirman

Author:Yuji Aruka & Alan Kirman
Language: eng
Format: epub
Publisher: Springer Singapore, Singapore

In biology the blood circuit is a typical example of a closed Stokes integral. The arteries carry carbon and oxygen and potential energy of combustion from the lungs to the muscles. On the way back the veins carry carbon dioxide without energy from muscles to lungs. In each cycle the heat of combustion is the energy used by the muscles.

In economics the production circuit is a closed Stokes integral. Commodities may be produced at low wages in China, and they may be sold afterwards at a high price in the USA. Each cycle leads to a profit, the difference between prices and costs.

In engineering the closed Stokes integral is the basis of heat pumps. The pump may extract heat with little effort from a cold river. Afterwards the pump will heat up a warm room with high efficiency. All three models are equivalent and will be used in economics.

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