Maxwell says that physics, like economics, is all about bookkeeping. I think that is a bit of a confusion, but there is a sense in which the comparison is apt. Yet Mirowski seems baffled by the application of the conservation principle to in economics. What is conserved? -- he asks. :-)
On Fri, Aug 23, 2013 at 8:45 PM, michael perelman < [email protected]> wrote: > Julio asked on Doug Henwood's Facebook page about what value the concept > of Physics Envy might be. I thought that the way that he shows how > economists tried to get physicists to endorse their work is very valuable. > > 354: "In a letter to an English economist named Henry MacLeod, who > courted obscurity by comparing economics to physics without sufficient > scientific background or academic influence to establish a research school, > the much less obscure physicist James Clerk Maxwell confessed: "We are in > the same boat .... [I]nstead of reducing economics to physics, I endeavour > to impress upon beginners in physics the principles of book keeping" (H. > D. MacLeod, An Address to the Board of Electors to the Professorship of > Political Economy in the University of Cambridge [London, 1884], p. 12). > > > -- > Michael Perelman > Economics Department > California State University > Chico, CA > 95929 > > 530 898 5321 > fax 530 898 5901 > http://michaelperelman.wordpress.com > > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > >
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