Meanwhile, physics moved on with thermodynamics and the quantum realm, but economics did NOT. Moreover, as Veblen pointed out they completely ignored “evolution”, which was enlivening the natural and even some other social sciences. How could their characterization of social laws be cast in stone, if human ecology and its institutions were reorganizing over time? A small dose of modern physics could have helped economists out, relieving their overwhelmingly sta…
Greg Daneke, Emeritus Prof.
