Field Theory of Macroeconomics
In this article we will show that the Macro-Economy and its growth can be
modelled and explained exactly in principle by commonly known Field Theory from
theoretical physics. We will show the main concepts and calculations needed and
show that calculation and prediction of economic growth then gets indeed
possible in Dollars and Cents. As every field theory it is based on an equation
of continuity, which in economic terms means the full balance of all sources
and sinks of Capital (Assets) and real Goods (GDP) in the bulk. Uniqueness of
field theory of macroeconomics then can be derived from adapting Noether's
Theorems, which is based on the notion of invariants to derive unique field
equations. We will show that the only assumption which is needed for a
self-consistent non-linear macro-economic theory is that the well known
Quantity Equation, used in corrected formulation, holds at least locally in
time.