Time and Money How Long and How Much Money is Needed to Regulate a V

This authored monograph presents an unconventional approach to an important topic in economic theory. The author is an expert in the field of viability theory which was motivated by economics at the end of the 1970's (see Dynamic Economic Theory: a Viabil

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Jean-Pierre Aubin

Time and Money

How Long and How Much Money is Needed to Regulate a Viable Economy

Lecture Notes in Economics and Mathematical Systems Founding Editors: M. Beckmann H.P. K¨unzi Managing Editors: Prof. Dr. G. Fandel Fachbereich Wirtschaftswissenschaften Fernuniversit¨at Hagen Hagen, Germany Prof. Dr. W. Trockel Murat Sertel Institute for Advanced Economic Research Istanbul Bilgi University Istanbul, Turkey Institut f¨ur Mathematische Wirtschaftsforschung (IMW) Universit¨at Bielefeld Bielefeld, Germany Editorial Board: H. Dawid, D. Dimitrov, A. Gerber, C-J. Haake, C. Hofmann, T. Pfeiffer, R. Slowi´nski, W.H.M. Zijm

For further volumes: http://www.springer.com/series/300

670

Jean-Pierre Aubin

Time and Money How Long and How Much Money is Needed to Regulate a Viable Economy

123

Jean-Pierre Aubin VIMADES (Viabilit´e, March´es, Automatique et D´ecision) Paris, France

ISSN 0075-8442 ISBN 978-3-319-00004-6 ISBN 978-3-319-00005-3 (eBook) DOI 10.1007/978-3-319-00005-3 Springer Cham Heidelberg New York Dordrecht London Library of Congress Control Number: 2013944195 c Springer International Publishing Switzerland 2014  This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. Exempted from this legal reservation are brief excerpts in connection with reviews or scholarly analysis or material supplied specifically for the purpose of being entered and executed on a computer system, for exclusive use by the purchaser of the work. Duplication of this publication or parts thereof is permitted only under the provisions of the Copyright Law of the Publisher’s location, in its current version, and permission for use must always be obtained from Springer. Permissions for use may be obtained through RightsLink at the Copyright Clearance Center. Violations are liable to prosecution under the respective Copyright Law. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. While the advice and information in this book are believed to be true and accurate at the date of publication, neither the authors nor the editors nor the publisher can accept any legal responsibility for any errors or omissions that may be made. The publisher makes no warranty, express or implied, with respect to the material contained herein. Printed on acid-free paper Springer is part of Springer Science+Business Media (www.springer.com)

This book is dedicated to Jean Cartelier, who, for a quarter of century, has guide