Ecodynamics

Econodynamics is a part of applied economics. It covers knowledge on monetary value, the usage of money,^[1] and the money flow.^[2] It deals with labor, and capital.

Applications in modern economic modeling

The concept of econodynamics has been applied in macroeconomic models that examine interactions among debt, investment, and financial instability. Some researchers use the term to describe dynamic feedback systems in which monetary flows, credit expansion, and asset prices mutually influence each other over time. For example, studies of nonlinear financial dynamics show how credit growth and asset valuation can reinforce each other, potentially leading to instability in leveraged economies.^[3] Similar approaches also examine how monetary circulation interacts with production and consumption flows, using system-dynamics models to understand long-run disequilibria in capitalist economies.

See also

• Thermoeconomics
• System Dynamics

External links

• M. King Hubbert on the Nature of Growth. Testimony to Hearing on the National Energy Conservation Policy Act of 1974, Subcommittee on the Environment of the committee on Interior and Insular Affairs House of Representatives, June 6, 1974.
• Herman E. Daly: Economics in a Full World, Scientific American, September 2005, Vol. 293, Issue 3.
• System Dynamics Society

Recommended reading

• Boulding, Kenneth E. (1978). Ecodynamics : a new theory of societal evolution. Beverly Hills (CA): Sage Publications. ISBN 978-0-8039-0945-8.
• Kümmel, Reiner (2011). The Second Law of Economics: Energy, Entropy, and the Origins of Wealth. Berlin: Springer. ISBN 978-1-4419-9364-9.
• Pokrovskii, Vladimir (2011). Econodynamics. The Theory of Social Production. Heidelberg & Berlin: Springer. ISBN 978-94-007-2095-4.
• Keen, Steve (1997). Economic Growth and Financial Instability, Dissertation at the School of Economics. Sydney: The University of New South Wales. ISBN 978-94-007-2095-4.