|Time/date:||Wednesday, December 14, 2016. 14:15-15:50 4th Periods|
|Title:||A Unified Economic Theory Constructed with Synergetic Economics and Computer-A non-mathematical exposition|
|Spearkers:||Professor Zhang Wei-Bin
|Abstract:||Prof. Zhang explains how he has developed a general economic theory on the basis of the traditional economic theories with help of modern mathematics and computer. When he was completing his dissertation Economic Growth Theory (published by Springer, 1990) and Synergetic Economics (Springer, 1991) in 1989, he had recognized the historical timing for integrating the economic theories by producing a general economic theory. In the Foreword to the Japanese Translation version of his Synergetic Economics in 1994, he described: “Indeed, it is only after laborious work in many fields of theoretical economics that I began to be conscious of the fact that it is time to build a logically compact theory which includes the main economic ideas of Smith, Malthus, von Thunen, Ricardo, Marx, Mills, Walras, Marshall, Schumpeter, and Keynes. It should also include, as special cases, the well-established mathematical models, such as the Arrow-Debreu general equilibrium model, the Tobin model, the Solow-Swan-Uzawa growth model, the Oniki-Uzawa trade model, the Kaldo-Pasinetti two-class model, the Ricardian Models by Morishima, Samuelson and Pasinetti, the Keynesian theory, and Alonso location model, to explain certain economic phenomena which cannot be explained by the traditional works. I have concentrated on this single task, since … the spring of 1989.” Although the theory (developed so far) is presented by a system of high-dimensional non-linear differential equations, he explains the construction process and implications of the theory in a non-mathematical manner.|
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