Towards the Theory of Tangible-Financial Relation (preliminary)

NOTICE

• quite preliminary: DO NOT TRUST THE FOLLOWING

Directions

• To complete field-theoretic theory of financial asset prices, some consideration on interrelation with tangible constraints is inevitable
• Financial assets can grow exponentially apart from its tangible backs, or dissolved, like bosons could be stretched (divided) into more bosons with lower energy (wavelength)
• When tangible assets are more utilized and circulate with accelerations, indeed "high-powered" money, or demand for short-term bonds, grows
• Once amount of wasting assets recognized, as shown in Choate and Walter(1981), economy would be "pulled-in" to real investment cycle
• Real turbulence strongly alters brain states of economic subjects and invoke massive recalculation of preference order
• Currently macroeconomics avoids bankruptcy with boundedness assumptions like cash-in-advance or money-in-utility, which date back at least in Walras' Éléments
• Bankruptcy, or collapse of economic agents, should have adequate place in monetary economics
• Irving Fisher's debt-deflation theory looks so similar to Dirac's hole theory
• Fermionic substances could not multiplied: excluded and charged
• In principle, despite it is difficult to see what is really tangible in economic context, we can not avoid consideration on conformal symmetries, or "electrodynamic" constraints, in addition on "bosonic" free field, as the basis of theory of tangible constraints
• And it must ultimately determine the curvature of economy, also called as "productivity" or "inflation rate"

TODO

• learn classical electromagnetic field theory