Related papers: An Economic analogy to Electrodynamics
We consider the thermodynamic approach to the description of economic systems and processes. The first and second laws of thermodynamics as applied to economic systems are derived and analyzed. It is shown that there is a deep analogy…
We give a detailed description of electrodynamics as an emergent theory from condensed-matter-like structures, not only {\it per se} but also as a warm-up for the study of the much more complex case of gravity. We will concentrate on two…
Classical electrodynamics can be divided into two parts. In the first one, with the use of a plenty of directed quantities, namely multivectors and differential forms, no scalar product is necessary. It is called premetric electrodynamics.…
A thermodynamic approach to the description of economic systems and processes is developed. It is shown that there is a deep analogy between the parameters of thermodynamic and economic systems (markets); so each thermodynamic parameter can…
We consider demand-side economy. Using Caratheodory's approach, we define empirical existence of equation of state (EoS) and coordinates. We found new insights of thermodynamics EoS, the {\it effect structure}. Rules are proposed as…
We formulate thermodynamics of economic systems in terms of an arbitrary probability distribution for a conserved economic quantity. As in statistical physics, thermodynamic macroeconomic variables emerge as the mean value of microeconomic…
We will display the fundamental structure of classical electrodynamics. Starting from the axioms of (1) electric charge conservation, (2) the existence of a Lorentz force density, and (3) magnetic flux conservation, we will derive Maxwell's…
The purpose of this article is twofold. On one hand, we rigorously derive the Newton--Maxwell equation in the Coulomb gauge from first principles of quantum electrodynamics in agreement with the formal Bohr's correspondence principle of…
This paper offers an informal instructive introduction to some of the main notions of geometric continuum mechanics for the case of smooth fields. We use a metric invariant stress theory of continuum mechanics to formulate a simple…
Using Maxwell's mental imagery of a tube of fluid motion of an imaginary fluid, we derive his equations $\operatorname{curl} \mathbf{E} = -\frac{\partial \mathbf{B}}{\partial t}$, $\operatorname{curl} \mathbf{H} = \frac{\partial…
Combining a generalized current in the set of Maxwell's equations offers a useful framework to address the complex phenomena of electromagnetic turbulence. The fluidic-electromagnetic analogy implies that diffraction is the analog…
Economic systems are similar with physic systems for their large number of individuals and the exist of equilibrium. In this paper, we present a model applying the equilibrium statistical model in economic systems. Consistent with…
The Maxwell vector potential and the Dirac spinor used to describe the classical theory of electrodynamics both have components which are considered to be ordinary smooth functions on space-time. We reformulate electrodynamics by adding an…
We use a metric invariant stress theory of continuum mechanics to formulate a simple generalization of the the basic variables of electrodynamics and Maxwell's equations to general differentiable manifolds of any dimension, thus viewing…
Starting from the experimental fact that a moving charge experiences the Lorentz force and applying the fundamental principles of simplicity (first order derivatives only) and linearity (superposition principle), we show that the structure…
This paper presents macroeconomic model that is based on parallels between macroeconomic multi-agent systems and multi-particle systems. We use risk ratings of economic agents as their coordinates on economic space. Aggregates of economic…
Electromagnetic phenomena can be described by Maxwell equations written for the vectors of electric and magnetic field. Equivalently, electrodynamics can be reformulated in terms of an electromagnetic vector potential. We demonstrate that…
The similarity between electromagnetics and hydrodynamics has been noticed for a long time. Maxwell developed an analogy, where the magnetic field and the vector potential in electromagnetics are compared to the vorticity and velocity in…
The application of principles of thermodynamics and statistical mechanics to economic systems is considered in a broad historical perspective, extending from prehistoric times to the present day. The hypothesis of maximum entropy production…
In recent years, the $H$ formulation of Maxwell's equation has become the de facto standard for simulating the time-dependent electromagnetic behavior of superconducting applications with commercial software. However, there are cases where…