On economics as a physical science
University of Calcutta, India and Centre for Studies in Social Sciences, Calcutta, India
a e-mail: firstname.lastname@example.org
Received: 13 April 2016
Revised: 15 September 2016
Published online: 22 December 2016
This paper proposes a new interpretation of the subject matter and evaluates it in terms of recent research trends in the discipline of Economics. Instead of applying physical laws and trying to isolate cases where they work in Economics we must look for robust results in Economic theory that hold across space and time. This tends to mimic natural or physical laws. The paper suggests examples where it can be done. Recent trends in experimental research in Economics take the discipline away from order and uniformity and make it distant from physical research. While this is fruitful, search for robust results is a necessity for universal policy making and also for establishing the physical identity of the discipline.
© EDP Sciences, Springer-Verlag, 2016