TITLE:
On the Analogy of Gauge Theory of Plasticity and Economics
AUTHORS:
A. V. Samokish, V. E. Egorushkin
KEYWORDS:
Plasticity, Money Supply, Inflation, Gauge Fields
JOURNAL NAME:
Theoretical Economics Letters,
Vol.14 No.4,
August
12,
2024
ABSTRACT: We demonstrated the analogy between Economics and Gauge Theory of Plasticity and used it to describe the relationship between money supply and inflation at the economic market. The received equations of economical dynamics in phase space are similar to the plasticity equations and economic variables—choice, competition and profit correspond to the state of the market with inflation. We described the meaning of equations and the role of its variables in the stabilization mechanism of the market with inflation. The equation of market equilibrium including the profit turnover, time changes of competition, capital and choice was discussed in detail.