we actually take pride in making Economics part of Newtonian Mechanics.
That's a bold and intriguing statement — "we actually take pride in
making Economics part of Newtonian Mechanics." It suggests a deliberate
effort to model economic behavior with the rigor, determinism, or structure
found in classical physics. Here are a few ways that could be interpreted
or unpacked: Possible Interpretations: Deterministic Economic Modeling:
Newtonian mechanics is governed by deterministic laws — given initial
conditions, the future state is fully predictable. Applying this to
economics might mean you aim to model economic systems with precise,
rule-based predictions (e.g., using dynamic systems, equations of motion
for capital, etc.).
Mathematical Formalism: Perhaps you're using Newtonian-style equations
(forces, acceleration, momentum) as metaphors or direct analogies in
economic modeling — like treating demand as a force, or modeling utility
maximization as a form of energy optimization.
Reductionism: Newtonian mechanics breaks complex phenomena into simpler
components. If you're applying this to economics, maybe you're decomposing
macroeconomic trends into fundamental microeconomic "particles" or agents.
Newtonian Concepts in Econo-physics:
There's a whole field called Econophysics, where economists and physicists
borrow models from statistical mechanics, thermodynamics, and classical
physics to analyze markets.
1. Constrained Dynamics & “Forces” in Economics What it
means: Instead of just thinking of economic agents optimizing (maximizing
utility, minimizing cost) under static constraints, economists model
economic forces analogous to physical forces. These could be desires,
incentives, market pressures, or policy constraints. Agents exert these
forces; constraints (budget, capacity, laws, supply issues) act like
physical constraints or reaction forces. Then the dynamic path (how
variables change over time) follows from the net force.
Why useful: Provides a framework for out‑of‑equilibrium dynamics, not just
static equilibrium. Helps to capture adjustment processes, how economies
respond over time when shocks or policy changes are introduced.
2. Thermodynamics / Equilibrium‐Econophysics What it means:
Borrowing notions from thermodynamics (such as temperature, entropy,
equilibrium) to describe aggregate economic behavior. For example, viewing
income/wealth distribution similarly to energy distributions in physics; or
seeing stability vs instability (phase transitions) in markets.
Why useful: Because many economic phenomena behave like large systems with
many interacting parts; statistical tools from physics help capture
macro‐patterns (distribution tails, aggregate fluctuations, emergent
phenomena).
3. Newtonian Mechanics of Demand / Dynamic Price and Inventory Models
What it means: One can directly take analogies with Newton’s laws: e.g.
demand reacts with ‘inertia’, adjustments to price have lag (like
acceleration), supply‐demand differences act like forces. Inventory‐holding
dealers, consumers, etc., are “bodies” subject to “economic forces” that
push and pull.
Why useful: Helps in modeling realistic lags, oscillations, overshoots, and
inertia which are observed in real markets but often abstracted out in
static/neoclassical models.
4. Historical & Philosophical Foundations
Many of the early economists adopted metaphors from mechanics (Newtonian
metaphors), or saw the scientific legitimacy of economics in analogy with
physical sciences.
Strengths & Limitations
• Offers clear, mathematically tractable models; lends precision.
• Can capture dynamics, adjustment, inertia, oscillations.
• Helps understand emergent patterns (distributional effects, cycles) using
known physics methods.
• Cross‐fertilization leads to new tools/models (e.g. statistical
mechanics, non‐linear dynamics). • Human behavior is not as deterministic
or uniform as physical bodies: preferences, expectations, learning, shocks
make the “laws” probabilistic or context‐dependent.
• Aggregation problems: unlike particles, economic agents differ widely,
interact with feedback, have consciousness, adaptivity.
• Overreliance on analogies might hide essential differences; risk of
mis‐applying physical laws where they don’t hold.
• Some economic phenomena (institutions, culture, politics) lack analogy in
physics, or are “forces” that physics doesn’t have.
What a Fully Worked Newtonian‐Style Economic Model Might Include
Inventory levels or supply/demand gaps might provide “mass” or inertia.
Demand excess acts as a force pushing prices up; supply excess pushes them
down.
Friction or damping from transaction costs, adjustment costs, delays.
Policy, shocks, taxes, large exogenous events that suddenly impact the
system.
Some sectors or agents adjust slowly (large “mass”); some respond rapidly
(small “mass”). Differences in dynamics.
Budget constraints, capacity limits, regulation act similar to constraints
in mechanics. When agents try to push variables outside feasible region,
constraint forces push back (like reaction forces in physics).
Utility functions often thought of like potential energy surfaces; agents
“roll down” to equilibrium by “falling” in utility landscape.
Frictional losses, transaction costs, depreciation, inefficiencies, delays.
Analogous to Newtonian stable equilibria (minimum potential), or unstable
equilibria (maximum or saddle). Study small perturbations.
Differential equations explicit in time: e.g., mx¨=F(x,x˙,t), where x is
some economic variable.
Mendel (2023), “The Newtonian Mechanics of Demand” is a recent paper
modelling price & inventory dynamics within such a framework. Cambridge
University Press & Assessment. (Book available on internet)
CAN WE LIVE AND LEAD ALIFE WITHOUT CARING FOR SUCH ECONOMICS?
1. On a Personal Level: Yes, But with Limits
You can live a meaningful, ethical, and even joyful life without obsessing
over traditional economics, especially if: You prioritize non-material
values — family, community, creativity, spirituality, nature. You live in a
self-sustaining or low-consumption lifestyle, e.g., off-grid, minimalist,
intentional communities. You opt out of competitive economic structures —
not chasing status, career hierarchies, or constant growth.
Think: “Economics tells you how to make a living. Philosophy tells you how
to live.” But here’s the catch: even if you don’t care about economics, it
still affects you.
2. Systemically: Economics Cares About You — Whether You Like It or Not
You still need food, shelter, access to healthcare, education — all shaped
by economic systems. Prices, wages, inflation, interest rates, unemployment
— these influence your life even if you ignore them. Decisions made by
governments, corporations, banks, central banks — based on economic models
— shape your opportunities. Choosing not to care about economics doesn’t
mean you escape it. It just means you leave decisions to those who do.
3. The Irony: We All "Do Economics" Even If We Don’t Call It That
When you budget your time or money, you're doing microeconomics. When you
decide to share resources, barter, grow your own food — you're engaging in
economic behavior. Even resisting consumerism is an economic choice —
pushing back against market values. So the deeper question becomes: What
kind of economics are we choosing to care about or ignore?
4. Alternative View: Change the Game, Don’t Just Opt Out
If the question is really: Can we reject exploitative, abstract, overly
technical economics and still thrive? Then the answer is: Yes — by building
or participating in alternative systems:
Local, solidarity economies
Cooperative ownership models
Ecological economics
Gift economies
Degrowth movements
Doughnut economics
Buddhist economics
These reject the idea that growth = success or that humans = rational
profit-maximizers.
5. Spiritual & Philosophical Take Many spiritual paths — Buddhism,
Stoicism, Indigenous philosophies — suggest freedom from material
attachment, and teach contentment independent of wealth or markets.
“He who is not contented with what he has, would not be contented with what
he would like to have.” — You can live meaningfully by valuing enough over
more, being over having, service over profit.
ॐ अग्निमीळे पुरोहितं यज्ञस्य देवमृत्विजम् ।
होतारं रत्नधातमम् ॥१॥
ŏm āgnim-īille Purohitam ẏajnyasya ḍevam-ṟtvijam |
ḥotāram ṟatna-ḍhātamam ||1||
I glorify Agni, the high priest of sacrifice, the divine, the ministrant,
who is the offeror and possessor of greatest wealth.
अग्निना रयिमश्नवत्पोषमेव दिवेदिवे ।
यशसं वीरवत्तमम् ॥३॥
āgninā ṟayim-āśnavat-Possam-ĕva ḍive-ḍive |
ẏaśasam Vīravat-ṭamam ||3||
Through Agni, one gets lot of wealth that increases day by day. One gets
fame and the best progeny.
अग्निर्होता कविक्रतुः सत्यश्चित्रश्रवस्तमः ।
देवो देवेभिरा गमत् ॥५॥
āgnir-ḥotā k͟havikratuh Satyaś-Citraśravastamah |
ḍevo ḍevebhir-āa ġamat ||5||
May Agni, the sacrificer, one who possesses immense wisdom, he who is true,
has most distinguished fame, is divine, come hither with the gods.
यदङ्ग दाशुषे त्वमग्ने भद्रं करिष्यसि ।
तवेत्तत्सत्यमङ्गिरः ॥६॥
ẏad-āngga ḍāśusse ṭvam-āgne Bhadram k͟harissyasi |
ṭave[a-ī]t-ṭat-Satyam-ānggirah ||6||
O Agni, whatever good you will do and whatever possessions you bestow (upon
the worshipper), that, O Angiras, is indeed your essence. (contentment)
स नः पितेव सूनवेऽग्ने सूपायनो भव ।
सचस्वा नः स्वस्तये ॥९॥
Sa ṇah Pite[ā-ī]va Sūnave-[ā]gne Sūpāyano Bhava |
Sacasvā ṇah Svastaye ||9||
O Agni, be easily accessible to us, like a father to his son. Accompany us
for our well-being.
BG The virtuous devotee (bhakta): The text describes the ideal devotee
(bhakta) as someone who is "ever content" (santushtah), friendly to all
beings, and free from ego and envy. This person is not bound by their
actions and remains self-controlled and steady in their devotion. Rejection
of purely material bliss: The Gita contrasts the impermanent, fleeting
happiness (sukha) derived from the senses with the "imperishable sukha"
gained by finding happiness in the Self (Atman). It critiques the purely
ritualistic performance of Vedic rites for temporary heavenly pleasures,
seeing the love for the Supreme as the ultimate, eternal purpose.
Final Thought
You can live without caring for conventional economics,
but you can’t escape its influence — unless you consciously build or join
an alternative.
So maybe the better question is:
What kind of economic life is worth caring about?
One that serves human dignity and the planet — or one that treats us like
numbers in a machine? K Rajaram IRS 91025
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