3 ms·
Samuelson attempted to develop a sort of thermodynamics of economics. As far as I can tell it was a miserable failure. https://en.wikipedia.org/wiki/Foundation
by scottlocklin 11y ago
Samuelson attempted to develop a sort of thermodynamics of economics. As far as I can tell it was a miserable failure.
https://en.wikipedia.org/wiki/Foundations_of_Economic_Analysis https://en.wikipedia.org/wiki/Foundations_of_Economic_Analys...
I'm a fan of using physics models for predicting behavior of large groups of people, but economics .... they do occasionally come up with nice statistical tools. Sort of like psychological researchers; those fellows whose papers can only be reproduced around 1/3 of the time.