Jing Chen

TL;DR: In this paper, a unified understanding of economic and social phenomena is presented, an understanding that is much simpler than what mainstream economic theory has to offer Its aim is to revolutionize thinking in economics and transform social sciences into an integral part of the physical and biological sciences.

TL;DR: In this article, the authors present the implications of a simple analytical theory in which economic crisis emerges from rising real resource costs in systems with high fixed costs relative to variable costs, and explain the effects of austerity and stimulus policies in the face of crisis under differing combinations of fixed and variable costs.

TL;DR: In this paper, the authors provide a model that permits systematic and even quantitative assessment of the policy implications of increasingly scarce and expensive resources, and model the return to investment as a function of fixed cost, discount rate, uncertainty, project duration and the volume of output.

TL;DR: In this paper, the authors present a common analytical framework for evolutionary and institutional economics, conceived as the study of systems that do not tend toward, nor necessarily fluctuate around, a steady state.