Probabilistic political economy and endogenous money

Since the foundational work of Farjoun and Machover , important contributions to the field of probabilistic economy have been made. In this context one naturally has conservation of money as a postulate. However it is questionable whether a capitalist economy could ever work with entirely exogenous money, and it is interesting to see to what extent probabilistic arguments can illuminate the evolution of the type of endogenous money system that characterizes contemporary capitalism. We first argue, on probabilistic grounds, that a system with a strict conservation law on money was historically unsustainable. We then make the case that phenomena such as the formation of a rate of interest, periodic commercial crises, and the formation of a rentier class can be understood using the sort of reasoning pioneered by Farjoun and Machove

Is economic planning hypercomputational? The argument from Cantor diagonalisation

Murphy [26] argues that the diagonal argument of the number theorist Cantor can be used to elucidate issues that arose in the socialist calculation debate of the 1930s. In particular he contends that the diagonal argument buttresses the claims of the Austrian economists regarding the impossibility of rational planning.We challenge Murphy’s argument, both at the number theoretic level and from the standpoint of economic realism

Ab initio parametrised model of strain-dependent solubility of H in alpha-iron

The calculated effects of interstitial hydrogen on the elastic properties of alpha-iron from our earlier work are used to describe the H interactions with homogeneous strain fields using ab initio methods. In particular we calculate the H solublility in Fe subject to hydrostatic, uniaxial, and shear strain. For comparison, these interactions are parametrised successfully using a simple model with parameters entirely derived from ab initio methods. The results are used to predict the solubility of H in spatially-varying elastic strain fields, representative of realistic dislocations outside their core. We find a strong directional dependence of the H-dislocation interaction, leading to strong attraction of H by the axial strain components of edge dislocations and by screw dislocations oriented along the critical slip direction. We further find a H concentration enhancement around dislocation cores, consistent with experimental observations.Comment: part 2/2 from splitting of 1009.3784 (first part was 1102.0187), minor changes from previous version

Probabilistic political economy and endogenous money

Since the foundational work of Farjoun and Machover , important contributions to the field of probabilistic economy have been made. In this context one naturally has conservation of money as a postulate. However it is questionable whether a capitalist economy could ever work with entirely exogenous money, and it is interesting to see to what extent probabilistic arguments can illuminate the evolution of the type of endogenous money system that characterizes contemporary capitalism. We first argue, on probabilistic grounds, that a system with a strict conservation law on money was historically unsustainable. We then make the case that phenomena such as the formation of a rate of interest, periodic commercial crises, and the formation of a rentier class can be understood using the sort of reasoning pioneered by Farjoun and Machove

On piezophase effects in mechanically loaded atomic scale Josephson junctions

The response of an intrinsic Josephson contact to externally applied stress is considered within the framework of the dislocation-induced atomic scale Josephson effect. The predicted quasi-periodic (Fraunhofer-like)stress-strain and stress-current patterns should manifest themselves for experimentally accessible values of applied stresses in intrinsically defected (e.g.,twinned) crystals.Comment: REVTEX (epsf style), 2 EPS figure

Transition to 21st century socialism in the European Union

This paper attempts to outline the economic steps that would be necessary to convert a capitalist economy like the EU into a socialist one. We examine the issue in very concrete terms and propose specific policy measures. The measures we propose differ significantly from the tradition of 20th century European Social Democracy

Against Hayek

Presents a critical analysis of Hayek in the light of modern computability and economic computability theory.Hayek, Computability, Socialism

Scaling Behaviour and Complexity of the Portevin-Le Chatelier Effect

The plastic deformation of dilute alloys is often accompanied by plastic instabilities due to dynamic strain aging and dislocation interaction. The repeated breakaway of dislocations from and their recapture by solute atoms leads to stress serrations and localized strain in the strain controlled tensile tests, known as the Portevin-Le Chatelier (PLC) effect. In this present work, we analyse the stress time series data of the observed PLC effect in the constant strain rate tensile tests on Al-2.5%Mg alloy for a wide range of strain rates at room temperature. The scaling behaviour of the PLC effect was studied using two complementary scaling analysis methods: the finite variance scaling method and the diffusion entropy analysis. From these analyses we could establish that in the entire span of strain rates, PLC effect showed Levy walk property. Moreover, the multiscale entropy analysis is carried out on the stress time series data observed during the PLC effect to quantify the complexity of the distinct spatiotemporal dynamical regimes. It is shown that for the static type C band, the entropy is very low for all the scales compared to the hopping type B and the propagating type A bands. The results are interpreted considering the time and length scales relevant to the effect.Comment: 35 pages, 6 figure