384 Pages 91 B/W Illustrations
by Routledge

384 Pages 91 B/W Illustrations
by Routledge

384 Pages 91 B/W Illustrations
by Routledge

This monograph examines the domain of classical political economy using the methodologies developed in recent years both by the new discipline of econo-physics and by computing science. This approach is used to re-examine the classical subdivisions of political economy: production, exchange, distribution and finance. The book begins by examining the most basic feature of economic life –... Read more

Introduction  1. Problematizing Labour  2. Problematizing Information  3. Labour Productivity  4. From Machines to the Universal Machine  5. Information and Communication  6. Political economy: Value and Labour  7. The Probabilistic Approach to the Law of Value  8. Value in a Capitalist Economy  9. Farjoun and Machover’s theory of price  10. A probabilistic model of the social relations of capitalism  11. Money and the form of value 12. Credit and Capital  13. Understanding profit  14. Hayek on Information and Knowledge  15. The Big Picture, economic trajectories in Britain and China  Appendix A: Proofs  Appendix B: Experimental details  Appendix C: Commodity Amplitude Space  Appendix D: A simple planning program  Appendix E: Profits in the SA model

Biography

W. Paul Cockshott has a PhD in Computer Science from Edinburgh University and is currently Reader in Computer Science at University of Glasgow. Allin F. Cottrell is Professor of Economics at Wake Forest University, North Carolina and has a PhD from the University of Edinburgh. Gregory J. Michaelson is Professor of Computer Science at Heriot-Watt University, and is a Fellow of the British Computer Society. Ian P. Wright is a PhD student in Economics at the Open University.  Victor M. Yakovenko is a Professor of  Physics at the University of Maryland.

'A challenging book which sheds further light on the field of econophysics as an interplay among economics, physics, and information theory, reading the past and the present with new analytical tools, and one which uses the past to provide new visions.'-- Nicola De Liso, University of Salento, Italy