Business Daily from THE HINDU group of publications
Tuesday, Apr 21, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Tuesday, Apr 21, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Opinion
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Letters Economics and physics Economics is certainly not physics (Business Line, April 15). However, economics is to the social sciences what physics is to natural sciences. The level of mathematical sophistication required in modern economics is much higher than in physics, since the basic unit of analysis you are dealing with — the human being — is much more unpredictable than atoms and molecules. As Sir Isaac Newton said: “I can calculate the motions of the heavenly bodies, but not the madness of people”. Is it possible — or desirable — for economics to become like physics? That is a question intellectuals need to answer carefully. Dhananjay Samant e-mail More Stories on : Letters | Economics
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