Epstein Secrets

ge payments to rents. The macroeconomic models in section 4 above suggest that liquidity can be formed endogenously, in exactly the way proposed by Minsky. This suggests that, just as central banks are expected to control changes in the money supply caused by fractional reserve banking, it seems appro

nd GLV distributions will be found to give general and stable descriptions of many complex systems that have hitherto been seen as insoluble. What Dewar, Levy and Solomon's systems consist of are three critical elements; a source, a sink, and some sort of self-limiting behaviour. This model is poten

is simply a complicated and interesting sub-section of the MEP function of the earth as a whole. 202 EFTA00625330 Returning to the mathematics, Dewar [Dewar 2005] has produced a seminal paper that derives maximum entropy production from the first principles of information theory and simple maximum

o produce a simple Lotka-Volterra macroeconomic model. This basic model generates endogenous boom and bust business cycles of the sort described by Minsky and Austrian economists. From this model an exact formula for the Bowley ratio; the ratio of returns to labour to total returns, is derived. This f

appears not to have percolated into the general physics community despite appearing to have general applicability. The ideas of Paltridge, Lorenz, Dewar and others, along with the mathematical techniques of Levy & Solomon, may not be familiar to many physicists, and I believe may be very powerful in

al unproductive. This then generates a downswing of declining wealth, consumption and wages. This is the normal cycle of capitalism as described by Minsky and the Austrians. Booms and busts are endogenous. Free markets are not inherently stable. Again, as with the income and company models it noticeab

ormation approach is more obvious mathematically, but like quantum mechanics, somehow seems to imply the necessary presence of an outside observer. Dewar's work, discussed in section 7.3 below may shed some light on this discussion. Both Atkins's and Ben-Naim's books are short and well written, and I