A Brief History of Economics: An Outsider’s Account
When physics started to develop, say with Galileo Galelei (1564–1642), there were hardly any science at a grown-up stage to get help or inspiration from. The only science that was somewhat grown up was mathematics, which is an analytical science (based on logic) and not synthetic (based on observations/experiments carried out in controlled environments or laboratories). Yet, developments in mathematics, astronomical studies in particular, had a deep impact in the development of physics, of which the (classical) foundation was almost single-handedly laid down by Isaac Newton (1643–1727) in the seventeenth and early eighteenth century. Mathematics remained at the core of physics since then. The rest of “main stream” sciences, like chemistry, biology etc all tried to get inspiration from, utilize, and compare with physics since then.
KeywordsMarginal Utility Arithmetic Progression Economic Science Perform Monte Carlo Simulation Minority Game
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