Some Thoughts on Economic Theory
Economic theory has been studies as far back as Biblical times and has evolved as society has changed. But in todays world is not the budget constraint more important than interest rates since people use credit cards with 21% interest charges? And is not demand based on the individual and by combining people in the demand function does it not violate utility theory? This brief points out several errors and new ideas in economic theory.
In the present work, Von Mises criterion and its distortional energy density interpretation proposed for plastic mechanics is employed to study the effect of temperature on plastic yielding behavior of metal