Econodynamics

<p>Economic dynamics is an <a href="/facts/Empirical_science/f68IpCeE">empirical science</a> that studies emergences, motion and disappearance of <a href="/facts/Value_(economics)/76jsyB6X">value</a>—a specific concept that is used for description of the processes of creation and distribution of <a href="/facts/Wealth/IkxfYrFc">wealth</a>. Any economic theory deals with the  interpretation of economic processes based on the law of production of value, and various scientific approaches  differ in the choice of factors of production that determine, in the end, the creation of wealth. Marxists insist that only labor creates value, neoclassicists believe that, in addition to labor, capital must also be taken into account as the  important source of value. Econodynamics demonstrates,  and this is an achievement of V.N. Pokrovskii, that the observed substitution of labour be capital is, in fact, the substitution of labour by work of external energy sources, and the statement about the productive power of capital is a hoax that hides the real role of labor and energy in the production of value. Econodynamics offers a more adequate  interpretation of economic growth and other phenomena. Econodynamics is based on the achievements of classical <a href="/facts/Political_economy/P753k3It">political economy</a>  and neo-classical <a href="/facts/Economics/HYctA2Dn">economics</a> and has been using the methods of phenomenological science to investigate evolution of <a href="/facts/Economic_system/N4SBdoxS">economic system</a>. Econodynamics has been proposing  methods of analysis and forecasting of economic processes.  The comprehensive review of the problems of econodynamics is given recently by <a href="/facts/Vladimir_Pokrovskii/HbbuLwaK">Vladimir Pokrovskii</a>.
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Econodynamics