Troy L. Story
Exterior Calculus Economic Growth Dynamics
455 - 458
2011
5
3
International Journal of Mathematical and Computational Sciences
https://publications.waset.org/pdf/3779
https://publications.waset.org/vol/51
World Academy of Science, Engineering and Technology
Mathematical models of dynamics employing exterior calculus are mathematical representations of the same unifying principle; namely, the description of a dynamic system with a characteristic differential oneform on an odddimensional differentiable manifold leads, by analysis with exterior calculus, to a set of differential equations and a characteristic tangent vector (vortex vector) which define transformations of the system. Using this principle, a mathematical model for economic growth is constructed by proposing a characteristic differential oneform for economic growth dynamics (analogous to the action in Hamiltonian dynamics), then generating a pair of characteristic differential equations and solving these equations for the rate of economic growth as a function of labor and capital. By contracting the characteristic differential oneform with the vortex vector, the Lagrangian for economic growth dynamics is obtained.
Open Science Index 51, 2011