Saturday, October 30, 2004

I recently heard a quote from a physicist. It shows that physicists agree about at least one thing: the second law of thermodynamics.

"If someone points out to you that your pet theory of the universe is in disagreement with Maxwell's equations, then so much the worse for Maxwell's equations. And if your theory contradicts the facts, well, sometimes these experimentalists make mistakes. But if your theory is found to be against the Second Law of Thermodynamics, I can give you no hope; there is nothing for it but to collapse in deepest humiliation"---Arthur Eddington

I wonder if there is something like the second law of thermodynamics in economics.

I'll have to think about that. Perhaps I can be convinced that there is.

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