William Jevons (1866 and 1871) established a ground-breaking milestone with ‘A General Mathematical Theory of Political Economy’ for economic analysis. Jevons’ work was praised as the start of the mathematical method in the discipline of economics, which is inherently a subject involved with mathematics and quantities. This book focuses on the most fast-evolving and encompassing area in political economy — the dynamic global political economy. Under the high level of globalization currently, intertemporal and cross-boundary interactive elements are present in political-economic encounters. Indeed, almost all studies in the political economy may fall into the study of dynamic global political economy. Since the world has changed significantly, new mathematics developed by the authors of this book is used to formulate a general mathematical theory for the dynamic global political economy nowadays. A distinctive feature of the current book is that it combines advanced mathematics, game-theoretic concepts, and economics to develop a general mathematical theory supporting the study of the dynamic global political economy.
The book covers mathematical theory for different areas of the dynamic global political economy. In addition, it explicates the application of the mathematical theory in real-world scenarios, including (i) environmental degradation under an uncoordinated interaction scenario, (ii) global climate accords with collaboration and cooperation, (iii) trade network involving the Belt-Road Initiative (BRI) and Build Back Better World (B3W) Initiative, and (iv) random termination of international joint ventures.
Contents:
- Introduction
- A Disquisition on Global Political Economy
- Uncoordinated Interaction in a Dynamic World: Mathematical Theory and Explication in Environmental Degradation
- Coordination and Cooperation: Mathematical Theory and Explication in Global Climate Agreement
- Coalition and Blocs: Mathematical Theory and Explication in Trade Networks
- Random Termination Mathematical Theory and Explication in International Joint Venture
- Mathematical Solution Mechanisms
- Mathematical Appendices for Computational Illustrations
Readership: Primary readership: Graduate students in Economics and Applied Mathematics; Researchers in economics; Academic scholars and university professors; Policy researchers. Secondary readership: Undergraduate students in Economics and Applied Mathematics; Policy-makers in international organizations, like UN, EU, APEC, IPCC, WTO, and NATO.
Key Features:
- The proposed book is unique in the sense that it is the first and only text on a general mathematical theory of the dynamic global political economy
- It combines advanced mathematics, game theoretic analysis, and economics to formulate a general mathematical theory that exhibits the real-life elements of the current global political economy
- The book’s explication of the application of mathematical theory in real-world scenarios in the global political economy would widen the scope of the study of political economy
- The book yields significant research and pedagogical values in economics and mathematics, particularly in analyzing the dynamic political economy, formulation of rational economic policy, and development of optimization techniques
- The book is not only an advanced text for researchers and graduate students, it can also serve as a general informative book for policy-makers in international organizations, like UN, EU, APEC, IMF, IPCC, WTO, and NATO
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