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Economics made simple with physics models

Both physical and economic phenomena may possess universal features that could be uncovered using the tools of physics. The principal difference is that in economic systems — unlike physical ones — current actions may be influenced by the perception of future events. The latest issue of EPJ Special Topics examines the question as to whether econophysics, a physics-based approach to understanding economic phenomena, is more useful and desirable than conventional economics theories.

(via WSJ)