
This article is a response to the recent Worrying Trends in Econophysics critique written by four respected theoretical economists. Two of the four have written books and papers that provide very useful critical analyses of the shortcomings of the standard textbook economic model, neo-classical economic theory and have even endorsed my book. Largely, their new paper reflects criticism that I have long made and that our group as a whole has more recently made. But I differ with the authors on some of their criticism, and partly with their proposed remedy.
Physics - Physics and Society, FOS: Physical sciences, General equilibrium; uncertainty; conservation laws; money nonconservation; nonintegrability of dynamical systems; financial markets; stochastic processes, Physics and Society (physics.soc-ph), FOS: Economics and business, Quantitative Finance - General Finance, General Finance (q-fin.GN), jel: jel:C0, jel: jel:A2, jel: jel:D8
Physics - Physics and Society, FOS: Physical sciences, General equilibrium; uncertainty; conservation laws; money nonconservation; nonintegrability of dynamical systems; financial markets; stochastic processes, Physics and Society (physics.soc-ph), FOS: Economics and business, Quantitative Finance - General Finance, General Finance (q-fin.GN), jel: jel:C0, jel: jel:A2, jel: jel:D8
| selected citations These citations are derived from selected sources. This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically). | 59 | |
| popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network. | Top 10% | |
| influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically). | Top 10% | |
| impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network. | Top 10% |
