Physics and the foundations of economic science: comments in
memory of Ilya Prigogine

Day, Richard H.

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Discrete Dynamics in Nature and Society
Volume 2004 (2004), Issue 1, Pages 91-99
doi:10.1155/S1026022604312045

Physics and the foundations of economic science: comments in memory of Ilya Prigogine

Richard H. Day

Department of Economics, University of Southern California, Los Angeles 90089-0253, CA, USA

Received 11 December 2003

Copyright © 2004 Hindawi Publishing Corporation. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

This paper discusses how the concepts of nonlinearity, discrete dynamics, chaos, and emergent order that Ilya Prigogine advanced correspond to similar ideas involved in the adaptive, evolutionary branch of economics.