Research ArticleOpen AccessGoogle Scholar indexed
On the Analogy of Gauge Theory of Plasticity and Economics
Faculty of Economic Sciences, National Research University Higher School of Economics, Moscow, Russia
Institute of Strength Physics and Materials Science, Siberian Branch, Russian Academy of Sciences, Tomsk, Russia
- 1 Faculty of Economic Sciences, National Research University Higher School of Economics, Moscow, Russia
- 2 Institute of Strength Physics and Materials Science, Siberian Branch, Russian Academy of Sciences, Tomsk, Russia
Theoretical Economics Letters·Volume 14 (2024)·Pages 1522–1531·Published 15 July 2024·DOI10.4236/tel.2024.144076
Copy link · social · email
Abstract
We demonstrated the analogy between Economics and Gauge Theory of Plasticity and used it to describe the relationship between money supply and inflation at the economic market. The received equations of economical dynamics in phase space are similar to the plasticity equations and economic variables—choice, competition and profit correspond to the state of the market with inflation. We described the meaning of equations and the role of its variables in the stabilization mechanism of the market with inflation. The equation of market equilibrium including the profit turnover, time changes of competition, capital and choice was discussed in detail.
KeywordsPlasticityMoney SupplyInflationGauge Fields
- Baaquie, B. E. (2018). Quantum Field Theory for Economics and Finance. Cambridge University Press. https://doi.org/10.1017/9781108399685
- Berry, M. V. (1984). Quantal Phase Factor Accompanying Adiabatic Changes. Proce edings of the Royal Society of London , 392 , 45-57.
- Blair, F. (2021). The Truth about Inflation. Economics from the Top Down.
- Christianto, V., & Smarandache, F. (2015). An Economic Analogy with Maxwell Equations in Fractional Space. https://www.researchgate.net/publication/312220230_An_Economic_Analogy_with_Maxwell_Equations_in_Fractional_Space
- Dasari, S., & Biswas, A. K. (2013). An Economic Analogy to Electrodynamics. Modern Economy, 4, 723-732. https://doi.org/10.4236/me.2013.411078
- Dimitrijević, B., & Lovre, I. (2015). The Role of Temperature in Economic Exchange—An Empirical Analysis. Journal of Central Banking Theory and Practice, 4, 65-89. https://doi.org/10.1515/jcbtp-2015-0012
- Egorushkin, V. E. (1992). Dynamics of Plastic Deformation: Waves of Localized Plastic Deformation in Solids. Russian Physics Journal, 35, 316-334. https://doi.org/10.1007/bf00560067
- Egorushkin, V. E., Panin, V. E., & Panin, A. V. (2021). The Physical Nature of Plasticity. Physical Mesomechanics , 24, 1-8. https://doi.org/10.1134/s102995992101001x
- Hubbard, W. H. J. (2017). Quantum Economics, Newtonian Economics, and Law . Coase-Sandor Working Paper Series in Law and Economics, No. 799. http://dx.doi.org/10.2139/ssrn.2926548
- Kadic, A., & Edelen, D. G. B. (1983). A Gauge Theory of Dislocations and Disclinations. Springer.
- Mandrel, N. (2019). The Thermodynamics of Economic Engineering. Master’s Thesis, Delft University of Technology.
- Marsden, J. E., & Ratiu, T. S. (1994). Introduction to Mechanics and Symmetry. A Basic Exposition of Classical Mechanical Systems . Springer-Verlag.
- Panin, V. E., Egorushkin, V. E., & Panin, A. V. (2012). Nonlinear Wave Processes in a Deformable Solid Treated as a Hierarchically Organized System. Uspekhi Fizicheskih Nauk , 182, 1351-1357. https://doi.org/10.3367/ufnr.0182.201212i.1351
- Panin, V. E., Egorushkin, V. E., Elsukova, T. F., Surikova, N. S., Pochivalov, Y. I., & Panin, A. V. (2019). Multiscale Translation-Rotation Plastic Flow in Polycrystals. In S. Schmauder, C. S. Chen, K. Chawla, N. Chawla, W. Chen, & Y. Kagawa (Eds.), Handbook of Mechanics of Materials (pp. 1255-1292). Springer. https://doi.org/10.1007/978-981-10-6884-3_77