Empirical laws are rare in economics. This book describes efforts to anchor economic knowledge to invariant empirical laws. It links 17th and 18th century Galilean monetary economists to econophysics, a field that emerged in the mid-1990s. This virtual journey from past to present is charted by episodes on aggregates and empirical primacy. It includes the virtually unknown story of 19th century scholars who, by searching for a stricter mathematical approach, paved the way to an ‘engineering’ view of economics. Then there are celebrities like Pareto and his first empirical law governing the distribution of wealth. Pareto and Amoroso sparked a debate on the skewed distribution that spanned decades, ranging from finance to market transformations, to econophysics, with its concepts and tools inherited from statistical physics. The last stage of the journey goes through econophysics and the recent gradual advances it has made, which show how its position vis-à-vis economics has been changing.

Renaissance Europe witnessed a surge of interest in new scientific ideas and theories. Whilst the study of this 'Scientific Revolution' has dramatically shifted our appreciation of many facets of the early-modern world, remarkably little attention has been paid to its influence upon one key area; that of economics. Through an interrogation of the relationship between economic and scientific developments in early-modern Western Europe, this book demonstrates how a new economic epistemology appeared that was to have profound consequences both at the time, and for subsequent generations. Dr Maifreda argues that the new attention shown by astronomers, physicians, aristocrats, men of letters, travellers and merchants for the functioning of economic life and markets, laid the ground for a radically new discourse that envisioned 'economics' as an independent field of scientific knowledge. By researching the historical context surrounding this new field of knowledge, he identifies three key factors that contributed to the cultural construction of economics. Firstly, Italian Humanism and Renaissance, which promoted new subjects, methods and quantitative analysis. Secondly, European overseas expansion, which revealed the existence of economic cultures previously unknown to Europeans. Thirdly factor identified is the fifteenth- and sixteenth-century crisis of traditional epistemologies, which increasingly valued empirical scientific knowledge over long-held beliefs. Based on a wide range of published and archival sources, the book illuminates new economic sensibilities within a range of established and more novel scientific disciplines (including astronomy, physics, ethnography, geology, and chemistry/alchemy). By tracing these developments within the wider social and cultural fields of everyday commercial life, the study offers a fascinating insight into the relationship between economic knowledge and science during the early-modern period.

This book aims to make Galileo Galilei (1564-1642) accessible to the modern reader by refashioning the great scientist's masterpiece "Discourses and Mathematical Demonstrations Relating to Two New Sciences" in today's language. Galileo Galilei stands as one of the most important figures in history, not simply for his achievements in astronomy, physics, and engineering and for revolutionizing science and the scientific method in general, but also for the role that he played in the (still ongoing) drama concerning entrenched power and its desire to stifle any knowledge that may threaten it. Therefore, it is important that today's readers come to understand and appreciate what Galilei accomplished and wrote. But the mindset that shapes how we see the world today is quite different from the mindset -- and language -- of Galilei and his contemporaries. Another obstacle to a full understanding of Galilei's writings is posed by the countless historical, philosophical, geometrical, and linguistic references he made, along with his often florid prose, with its blend of Italian and Latin. De Angelis' new rendition of the work includes translations of the original geometrical figures into algebraic formulae in modern notation and allows the non-specialist reader to follow the thread of Galileo's thought and in a way that was barely possible until now.

Three Great Economists contains studies of three of the most influential economic theorists: Smith, whose masterpiece of economic theory, The Wealth of Nations, advocated free trade; Malthus, whose polemical first Essay on Population generated more misunderstanding and personal vilificationthan any comparable figure in the history of social and political thought; and Keynes, central thinker of the twentieth century, whose doctrines continue to inspire strong feelings in admirers and detractors alike. `For a clever and entertaining survey of Smith's life and work this book is unrivalled.' British Book News `In assembling a clear subtle portrait of Malthus, Winch has made a successful case for paying attention to what this varied and interesting thinker actually wrote, and he has done this in just over 100 pages: a remarkable achievement, and precisely what the general reader has come to hope for inthe Oxford Past Master series.' THES `exemplary in covering difficult subjects with lucidity and concision.' TES on Keynes

Galileo Unbound traces the journey that brought us from Galileo's law of free fall to today's geneticists measuring evolutionary drift, entangled quantum particles moving among many worlds, and our lives as trajectories traversing a health space with thousands of dimensions. Remarkably, common themes persist that predict the evolution of species as readily as the orbits of planets or the collapse of stars into black holes. This book tells the history of spaces of expanding dimension and increasing abstraction and how they continue today to give new insight into the physics of complex systems. Galileo published the first modern law of motion, the Law of Fall, that was ideal and simple, laying the foundation upon which Newton built the first theory of dynamics. Early in the twentieth century, geometry became the cause of motion rather than the result when Einstein envisioned the fabric of space-time warped by mass and energy, forcing light rays to bend past the Sun. Possibly more radical was Feynman's dilemma of quantum particles taking all paths at once — setting the stage for the modern fields of quantum field theory and quantum computing. Yet as concepts of motion have evolved, one thing has remained constant, the need to track ever more complex changes and to capture their essence, to find patterns in the chaos as we try to predict and control our world.

"A devastating attack upon the dominance of atheism in science today." Giovanni Fazio, Senior Physicist, Harvard-Smithsonian Center for Astrophysics The debate over the ultimate source of truth in our world often pits science against faith. In fact, some high-profile scientists today would have us abandon God entirely as a source of truth about the universe. In this book, two professional astronomers push back against this notion, arguing that the science of today is not in a position to pronounce on the existence of God—rather, our notion of truth must include both the physical and spiritual domains. Incorporating excerpts from a letter written in 1615 by famed astronomer Galileo Galilei, the authors explore the relationship between science and faith, critiquing atheistic and secular understandings of science while reminding believers that science is an important source of truth about the physical world that God created.

Here is a bold history of economics - the dramatic story of how the great economic thinkers built today's rigorous social science. Noted financial writer and economist Mark Skousen has revised and updated this popular work to provide more material on Adam Smith and Karl Marx, and expanded coverage of Joseph Stiglitz, 'imperfect' markets, and behavioral economics.This comprehensive, yet accessible introduction to the major economic philosophers of the past 225 years begins with Adam Smith and continues through the present day. The text examines the contributions made by each individual to our understanding of the role of the economist, the science of economics, and economic theory. To make the work more engaging, boxes in each chapter highlight little-known - and often amusing - facts about the economists' personal lives that affected their work.