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An Economic Analogy to Electrodynamics
Malad Office, Mumbai Branch, JP Morgan India Pvt. Services Ltd., India
Department of Physics, North-Eastern Hill University, Mawkynroh-Umshing, Shillong, India
- 1 Malad Office, Mumbai Branch, JP Morgan India Pvt. Services Ltd., India
- 2 Department of Physics, North-Eastern Hill University, Mawkynroh-Umshing, Shillong, India
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Abstract
In this article, we would like to find the laws of electrodynamics in simple economic systems. We identify the chief economic variables and parameters, scalar and vector. We find laws of economics interms of these variables and parameters. The laws are similar in form to the laws of symmetric electrodynamics. Moreover, we obtain Phillp’s curve, recession, Black-Scholes formula, Supply-Demand line and Cobb-Douglas production function as sample applications.
KeywordsEconomicsElectrodynamicsDuality
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