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the players know that it is the Old Maid which is circulating, or that when the music stops some of the players will find themselves unseated." 3M Keynes [Keynes 1936] The following is a brief review of current research and emerging ideas within the field of liquidity. This section is something of a
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
duced from retained earnings within companies. For many economists, somewhat oddly, this will be seen as a serious flaw. Since at least the time of Keynes, investment and saving have been at the heart of macroeconomic modelling, and this is true of neo-classical and other heterodox modelling, not just
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
loyment is higher in model 46 than model 4A. Also the ratio of returns to labour to returns to capital is significantly higher in model 4A. This is Keynes writ large. Unlike static equilibria, dynamic equilibria can have multiple points of stability. The point of equilibrium that is reached depends on
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
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