Dresden 2006 – scientific programme

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AKSOE: Physik sozio-ökonomischer Systeme

AKSOE 10: Poster Session (posters are expected to be displayed the full day 8:30-18:00)

AKSOE 10.9: Poster

Wednesday, March 29, 2006, 16:00–18:00, P2

The socioeconomic equation of state, structural interest rates, employment, and growth — •H G Danielmeyer — Inst. f. Neuro- and Bioinformatics, Luebeck, Ratzeburger Allee 160

In the 1980ies the G7 reached the state where intelligent use became as important for growth as intelligent production. The input variables labor and physical capital (K) are complemented by introducing spare time and user potential (UP) as output variables. An exact socioeconomic equation of state (SES) is obtained that yields the working and spare time, gross domestic product (GDP), K, and UP in analytically closed form without any adjustable parameter. The continuous agreement with the real per capita data from 1850 to date is perfect for coherent phases of G7 growth, including recovery and convergence dynamics of post war Germany and Japan. The values obtained for the UP per capita agree with the value of human capital per capita as computed from the cost of national education systems. For the first time an interest rate can be obtained from extensive economic variables: The long-term dynamic structural rate Z=(dK/dt)/UP.It agrees well with Germany’s post WWII bond rates: K/UP is a valid measure of investment risk. For the G7, the limits to growth are spare time and education for UP, no longer working time and K.