Classical Econophysics

This insightful work examines the interplay between information and money through classical political economy and econophysics, making it essential for researchers and students alike.

This book explores fundamental questions related to classical political economy and information theory, employing an econophysics methodology. It seeks to answer essential inquiries such as: What is information? Why is it valuable? And what is the relationship between money and information? By integrating insights from various disciplines, the authors provide a comprehensive analysis of these concepts.

Classical Econophysics delves into the classical subdivisions of political economy, including production, exchange, distribution, and finance. The examination begins with the core aspect of economic life: production. The authors investigate the physical laws that enable production and how human labor interacts with these laws to modify the world. The role of information in mass production is critically assessed, alongside a re-evaluation of the Ricardian labor theory of value through the lens of econophysics.

The book presents agent-based models that illustrate how the Ricardian theory of value can emerge from complex interactions within economic systems. Additionally, it discusses class income distribution and the long-term evolution of profit rates in market economies. By utilizing methodologies from classical political economy, theoretical computer science, and econophysics, Classical Econophysics aims to enhance our understanding of economic realities, making it a valuable resource for doctoral students, researchers, and scientists in the field of econophysics.