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Economics: The next physical science?

J. Doyne Farmer·Eric Smith·Martin Shubik
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Abstract

We review an emerging body of work by physicists addressing questions of economic organization and function. We suggest that, beyond simply employing models familiar from physics to economic observables, remarkable regularities in economic data may suggest parts of social order that can usefully be incorporated into, and in turn can broaden, the conceptual structure of physics.

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J. Doyne Farmer, Eric Smith, Martin Shubik. 2005-06-09. Economics: The next physical science?. https://arxiv.org/abs/physics/0506086

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