But isnt the whole idea weird? Whether physics took atoms as units of
explanation, or their constituents either way it would surely contradict
the weird egoism with its attendant self of traditional economics.
Explanation is not psychological in physics. If physics is correct the
movement of the atomic individual towards the refrigerator is not caused by
some desire to maximise its utility function by getting food but must be
explained ultimately by physical reactions of the atoms in the atomic
individual. Furthermore, physics does not use its models as some type of
ideal to be imitated by policy. Physicists dont suggest we ought to have
frictionless planes, or that we ought to release objects in vacuums etc. Or
suggest that we somehow should change the world when it is found that
objects on actual planes dont act as on frictionless planes. And if the idea
is just that u start with individual units and explain everything in terms
of them why take the individual units as atomic individuals rather than
collectivities such as crowds. Do a Platonic individualism!.
Isnt part of the idea of the comparison with physics to snow people into
thinking that economics is a "hard" science, not some soft muddy field like
sociology? The only legitimate part of the comparison is that in some broad
sense both explain the "more general" in terms of the interactions of the
"individual" units.
He he..a good pun Atom Smith...
Cheers, Ken Hanly
----- Original Message -----
From: "Michael Perelman" <[EMAIL PROTECTED]>
To: <[EMAIL PROTECTED]>
Sent: Tuesday, December 04, 2001 12:04 AM
Subject: [PEN-L:20315] Physics and economics
> For 2 centuries, economists have attempted to emulate physics as
> a justification for their individualistic model of the world,
> following Atom Smith. This article says that solid state
> physicists are pushing a different fundamental view of the world
> based on complex processes.
>
>
> http://www.nytimes.com/2001/12/04/science/physical/04SQUA.html
>
> --
>
> Michael Perelman
> Economics Department
> California State University
> Chico, CA 95929
>
> Tel. 530-898-5321
> E-Mail [EMAIL PROTECTED]
>
