Regensburg 2007 – wissenschaftliches Programm

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AKSOE: Arbeitskreis Physik sozio-ökonomischer Systeme

AKSOE 7: Economic Models and Evolutionary Game Theory I

AKSOE 7.3: Vortrag

Dienstag, 27. März 2007, 11:15–11:45, H8

Noether Theorem of Monetary Systems — •Dieter Braun — Angewandte Physik, Amalienstr. 54, 80799 München

Contrary to common belief, monetary systems can be implemented by bookkeeping in various ways. I classify the implementations by the symmetry properties of their transactions. Each symmetry relates to a conservation law in close analog to the Noether theorem:

- Symmetry of time asks for constant quantity of money

- Symmetry between transaction partners asks for zero profit

- Inclusion of the money issuer asks for internal exchange rates

Above relations can be directly visualized with a Feynman-Graph mapping of bookkeeping to mechanics. I give real world examples on how above symmetries are not implemented by modern monetary systems. Obeying the symmetries would implement monetary systems more stably with less inertial feedback loops.

References:

Physica A 290:491-500 (2001)

Physica A 321:605-618 (2003)

Physica A 324:266-271 (2003)

Physica A 369:714-722 (2006)

www.bookkeepingmechanics.com

www.biophysik.physik.uni-muenchen.de/Braun