TITLE:
The Economic Motion
AUTHORS:
Li Choy Chong
KEYWORDS:
Economic Dynamics; Equilibrium; Economic Fluctuations
JOURNAL NAME:
Theoretical Economics Letters,
Vol.3 No.4,
July
19,
2013
ABSTRACT: This paper
investigates the way economics moves, in other words we study the
characteristics of economic dynamics by itself that is by abstracting from the
single generating context, whatever this might be. We would like to concentrate
on the fundamental mechanism “moving” the economic system and determining its
business cycle, its crisis, its development and so on. In this way we are
offering an extremely new perspective about economic dynamics, as we do not consider
its elements as separate but we hold them as part of a single phenomenon, the
evolution of an economic system. We argue that by considering this point of view, economic dynamics
cannot be determined by a system in eternal equilibrium only occasionally
disturbed by some exogenous shock. We demonstrate that economics is evolving
continuously and economic phenomena (such as economic crisis) have to be
interpreted as a variation in its velocity.