From Newton’s Laws to Walras’ Equilibrium: A Historical Perspective on Determinism in Economics and Social Sciences
Focusing on a specific interaction between physics and economics, this study delves into the realm of econophysics and investigates the birth, evolution, and practical applications of this interdisciplinary field. This study explores the influence of Newton’s laws, the concept of gravity, and, more...
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| Format: | Article |
| Language: | English |
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MDPI AG
2025-02-01
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| Series: | Histories |
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| Online Access: | https://www.mdpi.com/2409-9252/5/1/9 |
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| author | Luigi Capoani |
| author_facet | Luigi Capoani |
| author_sort | Luigi Capoani |
| collection | DOAJ |
| description | Focusing on a specific interaction between physics and economics, this study delves into the realm of econophysics and investigates the birth, evolution, and practical applications of this interdisciplinary field. This study explores the influence of Newton’s laws, the concept of gravity, and, more generally, mechanical physics on the development of economic thought. It examines the application of Newtonian principles in interpreting economic dynamics, with a particular focus on the contributions of neoclassical economists and Isard’s gravitational model, offering insights into the intricate dynamics of economic equilibrium in complex systems. Finally, these concepts are situated within the broader debate between determinism and indeterminism in the social sciences. |
| format | Article |
| id | doaj-art-46e26606b96d42069a5bd89e76501d41 |
| institution | Kabale University |
| issn | 2409-9252 |
| language | English |
| publishDate | 2025-02-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Histories |
| spelling | doaj-art-46e26606b96d42069a5bd89e76501d412025-08-20T03:43:11ZengMDPI AGHistories2409-92522025-02-0151910.3390/histories5010009From Newton’s Laws to Walras’ Equilibrium: A Historical Perspective on Determinism in Economics and Social SciencesLuigi Capoani0Department of Economics, University of Venice Ca’ Foscari, 30123 Venice, ItalyFocusing on a specific interaction between physics and economics, this study delves into the realm of econophysics and investigates the birth, evolution, and practical applications of this interdisciplinary field. This study explores the influence of Newton’s laws, the concept of gravity, and, more generally, mechanical physics on the development of economic thought. It examines the application of Newtonian principles in interpreting economic dynamics, with a particular focus on the contributions of neoclassical economists and Isard’s gravitational model, offering insights into the intricate dynamics of economic equilibrium in complex systems. Finally, these concepts are situated within the broader debate between determinism and indeterminism in the social sciences.https://www.mdpi.com/2409-9252/5/1/9determinism and indeterminismgravityeconophysicshistory of economics |
| spellingShingle | Luigi Capoani From Newton’s Laws to Walras’ Equilibrium: A Historical Perspective on Determinism in Economics and Social Sciences Histories determinism and indeterminism gravity econophysics history of economics |
| title | From Newton’s Laws to Walras’ Equilibrium: A Historical Perspective on Determinism in Economics and Social Sciences |
| title_full | From Newton’s Laws to Walras’ Equilibrium: A Historical Perspective on Determinism in Economics and Social Sciences |
| title_fullStr | From Newton’s Laws to Walras’ Equilibrium: A Historical Perspective on Determinism in Economics and Social Sciences |
| title_full_unstemmed | From Newton’s Laws to Walras’ Equilibrium: A Historical Perspective on Determinism in Economics and Social Sciences |
| title_short | From Newton’s Laws to Walras’ Equilibrium: A Historical Perspective on Determinism in Economics and Social Sciences |
| title_sort | from newton s laws to walras equilibrium a historical perspective on determinism in economics and social sciences |
| topic | determinism and indeterminism gravity econophysics history of economics |
| url | https://www.mdpi.com/2409-9252/5/1/9 |
| work_keys_str_mv | AT luigicapoani fromnewtonslawstowalrasequilibriumahistoricalperspectiveondeterminismineconomicsandsocialsciences |