Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Time and Economics: The Concept of Functional Time

Time and Economics: The Concept of Functional Time

Rohatinski, Zeljko

Hardcover

Business GeneralEconomicsHistory & Philosophy of Science

ISBN10: 3319617044
ISBN13: 9783319617046
Publisher: Palgrave MacMillan
Published: Oct 23 2017
Pages: 259
Weight: 1.08
Height: 0.69 Width: 5.83 Depth: 8.27
Language: English

This book links the philosophical perception of time and Einstein's theory of special relativity to economic processes, showing that the phenomena of time dilation and length contraction seen in physics can be identified within - and adapted to - an economic framework. The author expands on Marx's model of reproduction with the additional variable of time, which is represented as a relative or functional category. In addition to allowing a more precise understanding of both static and dynamic relations between economic systems, this concept examines approaches to time proposed by Smith, Marshall and Keynes, and challenges the equilibrium and disequilibrium economic models. Rohatinski suggests that by understanding the differences in economic activity perceived across different time periods we are better able to influence that activity at micro- and macroeconomic levels.

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