An Economic Analogy to Electrodynamics


In this article, we would like to find the laws of electrodynamics in simple economic systems. We identify the chief economic variables and parameters, scalar and vector. We find laws of economics interms of these variables and parameters. The laws are similar in form to the laws of symmetric electrodynamics. Moreover, we obtain Phillp’s curve, recession, Black-Scholes formula, Supply-Demand line and Cobb-Douglas production function as sample applications.

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S. Dasari and A. Biswas, "An Economic Analogy to Electrodynamics," Modern Economy, Vol. 4 No. 11, 2013, pp. 723-732. doi: 10.4236/me.2013.411078.

Conflicts of Interest

The authors declare no conflicts of interest.


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