Physics deals with very the impersonal fields and particles . How do you bridge the gap between a subject rooted in physics , complex systems , and economics , which is the study of people and how we behave ?
That is a distinction that may be the case when you look from a distance , but when you look in closer detail , there ’ s something all sciences have in common : a duality between empirical work and theory . In many sciences , that theory is expressed in a mathematical language . The empirical work uses mathematical tools to analyse the data . And in physics and economics , that is the case . For example , both physics and economics build theories upon the concept of equilibrium . Like where is this going to end when I throw it , considering all forces are balanced ? And in economics , the standard model of economics came from the concept of equilibrium . The same mathematics is used to describe physics and economics . In that sense there are commonalities . And honestly , economics , being a social science , it is quite cold in describing human nature . I say that as a criticism , but the chasm between these two fields is not large because in the end , they are trying to figure out the right theory , given the data we have .
Media by Lars Kienle