ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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A Note on Econophysics

Reconceptualising Economics

Sinha and Chakrabarti’s "Econophysics: An Emerging Discipline" (EPW, 11 August 2012) provides not only a valuable introduction to an important alternative field of economics, but also gives the reader a comprehensive survey of the latest developments in the field.

Sinha and Chakrabarti’s “Econophysics: An Emerging Discipline” (EPW, 11 August 2012) provides not only a valuable introduction to an important alternative field of economics, but also gives the reader a comprehensive survey of the latest developments in the field. The authors maintain that econophysics provides a powerful new way of doing economics that stresses the importance of empirical investigation and is a viable alternative to mainstream neoclassical economics, which has been found wanting in the wake of the recent worldwide economic crisis. This note examines the claim that econophysics provides an a­lternative to mainstream economics. The argument advanced here is that econophysics is alike to mainstream economics in many ways. Alongside this critique, this note will point towards ­alternate ways of practising economics.

Econophysics

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