The Thesis of Econophysics: Analogy and Division in Action
Saturday, 1. July 2006, 14:59:13
As Philip Ball reports in Nature:
(Philip Ball, "Culture Crash," Nature 441 No. 7094 (8 June 2006), 686-687.)The idea that physics might have something useful to contribute to economics arises because both fields are concerned with systems of many interacting components that obey specific rules. Statistical physics describes the behaviour of bulk-matter based on the forces acting between atoms and molecules. Economics studies the interactions between economic 'agents'--market traders, say, or businesses.
Arguably, deriving microeconomic principles from the behaviour of individual agents should pose similar problems to deriving thermodynamic laws from interatomic forces.
Reducing or mapping economics to physics-based formulae may well be more than the extension of the mathematics of physics to the sphere of economics. The enterprise of econophysics illustrates a number of interesting pragmatic issues in scientific reasoning: (1) mathematics as the architecture of the sciences, (2) the theory of levels of phenomena as reflected in levels of organization, (3) the logical issues of composition and division, and (4) finally, the quest for the unity of science.
All reasoning seems to be ultimately analogical. The interesting question in this regard is whether there can be uniform classification of analogical methods.









