Econophysics is the transfer of methods from natural to socio-economic sciences. This concept has first been applied to finance, but it is now also used in various applications of economics and social sciences [2,3]. The present paper focuses on problems in macro economics and growth. 1. Neoclassical theory [4, 5] neglects the “ex post” property of income and growth. Income Y(K, L) is assumed t...

Macro economic studies of the costs of reducing CO2 emissions generally estimate the global cost of stabilising the atmospheric concentrations of CO2 in the range 350–550 ppm in trillions of USD. This creates the impression that the cost of CO2 reductions is so large that it threatens economic development. But, presented in another way, a completely different picture emerges. There is widesprea...

Tourism development contributes to economic development. In emerging economies like Kazakhstan, tourism needs active entrepreneurship. As the country emerges from post-Soviet era, there has been an increase in and prosperity. Entrepreneurship sector can drive forward through creation of new hospitality businesses. The macroeconomic environment influence entrepreneurial activity. We use autoregr...

We review the role of R&D in endogenous growth theory, and describe extant empirical research—macro and micro—bearing on R&D as an engine of growth. Taking R&D to be key while recognizing the significance of economic incentives emphasizes knowledge as an economic object and, more generally, the economics of intellectual property rights. This paper argues that property rights matter, but in subt...