Related papers: Some Physics Notions on Monetary Standard
I briefly summarize the prospects for extending our understanding of physics beyond the standard model within the next five years.
During its history, the ultimate goal of economics has been to develop similar frameworks for modeling economic behavior as invented in physics. This has not been successful, however, and current state of the process is the neoclassical…
When a mountaineer is ascending one of the great peaks of the Himalayas she knows that an entirely new vista awaits her at the top, whose ramifications will be known only after she gets there. Her immediate goal though, is to tackle the…
The crown jewel of particle physics, the Standard Model (SM), has withstood numerous experimental trials. However, there are still some observations it cannot explain. Examples such as dark matter and the matter-antimatter imbalance in the…
The known fundamental symmetries and interactions are well described by the Standard Model. Features of this powerful theory, which are described but not deeper explained, are addressed in a variety of speculative models. Experimental tests…
We have a well-established standard model for cosmology and prospects for considerable additions from work in progress. I offer a list of elements of the standard model, comments on controversies in the interpretation of the evidence in…
The paper argues that attracting more economists and adopting a more-precise definition of dynamic complexity might help econophysics acquire more attention in the economics community and bring new lymph to economic research. It may be…
All economies require physical resource consumption to grow and maintain their structure. The modern economy is additionally characterized by private debt. The Human and Resources with MONEY (HARMONEY) economic growth model links these…
It is only human nature to be reluctant to accept something new and different. This feeling is exacerbated given the success of the Big Bang model. However, there are cogent reasons for considering this new model. Some of the advantages of…
We look at various features of the Standard Model with the purpose of exploring some possibilities of how to seek physical laws beyond it, i.e. at even smaller distances. Only parameters and structure which are not calculable from the…
The solution to fine tuning is one of the principal motivations for Beyond the Standard Model (BSM) Studies. However constraints on new physics indicate that many of these BSM models are also fine tuned (although to a much lesser extent).…
The standard model of particle physics is marvelously successful. However, it is obviously not a complete or final theory. I shall argue here that the structure of the standard model gives some quite concrete, compelling hints regarding…
We discuss the possibility that the inflationary paradigm, undoubtfully today's best framework to understand all the present cosmological data, may still have some viable challengers. The underlying idea for such discussions is that…
Most of the econometric and econophysics models have been borrowed from the statistical physics, and as a cosequence, a new interdisciplinary science called econophysics has emerged. In this paper we planned to extend the analogy between…
In the hope of avoiding model dependence of the cosmological observables, phenomenological parametrizations of Cosmic Inflation have recently been proposed. Typically, they are expressed in terms of two parameters associated with an…
The classical gravitational two-body problem is generalized in order to be applicable also to weak gravitational fields. The equation of motion holds both for terrestrial and large cosmic scales, the Newtonian gravitational law represents a…
Econophysics, is based on the premise that some ideas and methods from physics can be applied to economic situations. We intend to show in this paper how a physics concept such as entropy can be applied to an economic problem. In so doing,…
Using the formalism of Lyapunov potential function it is shown that the stability principles for biomass in the ecosystem and for employment in economics are mathematically similar. The ecosystem is found to have a stable and an unstable…
I discuss some central issues in particle physics which are potentially relevant to cosmology. I first briefly review the present (glorious) experimental status of the Standard Model, emphasizing that it provides a firm foundation both for…
How can econophysics contribute to economics? Since the relation between basic principles of physics and economics is not established, there is no reason why physical theories should be of any value for economic theory. While economic…