This is a history of how physics has drawn some inspiration from economics and how economics has sought to emulate physics, especially with regard to the theory of value. The author traces the development of the energy concept in Western physics and its subsequent effect on the invention and promulgation of neoclassical economics, the modern orthodox theory.
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The development of the energy concept in Western physics and its subsequent effect on the emergence of neoclassical economics are traced to reveal how economics has sought to emulate physics, especially with regard to the theory of value.About the Author:
Philip Mirowski is Carl Koch Professor of Economics and the History and Philosophy of Science at the University of Notre Dame. His areas of specialization are in the history and philosophy of economics and the politics and economics of knowledge, with subsidiary areas in evolutionary computational economics, the economics of science and technological change, science studies and the history of the natural sciences. His most recent books include The Effortless Economy of Science (2004, winner of the Ludwig Fleck Prize from the Society for the Social Studies of Science), Machine Dreams (Cambridge University Press, 2001) and ScienceMart (2011), and he edited Agreement on Demand (2006), Science Bought and Sold (2001) and The Road from Mont Pelerin (2009). His landmark book More Heat than Light (Cambridge University Press, 1989) has been translated into French (2001). He has been the recipient of fellowships from the Fulbright program and New York University and was elected visiting Fellow at All Souls College, Oxford. He was elected President of the History of Economics Society for 2011.
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