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Econo- and Socio- Physics based Remarks on the Economical Growth of the World

Author

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  • Agata Angelika RZOSKA

    (The Karol Lipinski Academy, Poland.)

Abstract

It has been shown that the long term evolution of the Gross Product of the World after World War II can be well portrayed by the simply exponential function with the crossover at the year 1973, which coincides with the Oil Crisis onset. For such basic parameter as the S&P 500 index the single exponential behavior extends down to at least the mid of the nineteen century. It is notable that the detailed short-term insight focused on the last quarter of century revealed the emergence of the power like dependence, despite notable irregularities. However, such dependences can be introduced only when taking into account the behavior at reference-baselines years, clearly related to the society – important events in the past. The possible relationship to the growth/death evolution of microorganisms is also discussed.

Suggested Citation

  • Agata Angelika RZOSKA, 2016. "Econo- and Socio- Physics based Remarks on the Economical Growth of the World," Turkish Economic Review, EconSciences Journals, vol. 3(1), pages 82-92, March.
    • Handle: RePEc:cvv:journ2:v:3:y:2016:i:1:p:82-90
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    Keywords

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    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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