Universal Laws in Application to Evolutionary Economics

Abstract

The purpose of the present paper is to reveal some conformities to natural universal laws allowing to advance the theory of evolutionary economics. The second law of thermodynamics, Le Chatelie–Brown principle as universal laws are applied for nonlinear dynamical economic systems. The ergodic hypothesis is applied for dynamical economic systems as one from principles of economic forecasting. From the point of view of statistical physics, entropy is applied as universal function of a condition for economic systems. The evolution of economic dynamical systems at macro and microeconomic levels from the point of view of thermodynamics, statistical physics, and diffusion processes is investigated. The law of money circulation is formulated as one of the forms of display of energy conservation law in economic space. The concept of parametric economic space is introduced. The concepts of energy and number of degrees of freedom of a dynamical economic system allow substantiated cause and effect connections between the evolution of the system and a number of economic factors (forces), influencing on the system (degree of an openness, “freedom” of an economic system). The character of the development of technologies and the product life cycle are investigated as a nonlinear economic process. The concept of a wave function describing a technological wave connected with the entropy of a system of economic “cells” is introduced.