Physics of Ownership

Currently this page is static. It has a marginal interest because it catalogues the first e-papers in the field of econophysics, so it gives you a decent clue to keep looking for more recent work.

In some sense, econophysics is the branch of economy which will come to justify the existence of economical markets as perturbations from an scale-invariant market, just as renormalisation works for physics.

Scale invariant markets have been thought by theorists time ago. Sometimes I call them "Kropotkin markets" in honour to the naturalist who postulated them back in the XIXth century. The key point to his use in econophysics is to consider perturbations of them: the scale-invariance breaks and a monetary scale appears; stability of the system depends of the properties of the fixed point, which physicists refer as K, the critical point.

K is a theoretical point and the question of if it is technically reachable point has been a political issue of Anarchism for a while. Some models have been proposed where the production relationships are kept while the access to capital is enhanced; then it is postulated that a increase of free-time (say 5 hours day of labour) and an increase of R & D outcomes should drive economy to a overproduction phase having this scale-invariant property (any money-scale becomes negligible). While this model is socially interesting, its existence is not necesary for the development of a economic theory as described in previous parragraph.

Alejandro Rivero (Zaragoza Univ. & prev. Telefonica I+D - I had a bored job, but look my Physics & Geometry research...)
Do we need a Subject Class?

(Image from ISI Atlas of Science)


While capital by itself has not an appropriate scale to be measured, ownership lets such capital to be traded against a measurable good, usually called money. The study of this spontaneous apparition of scale has only recently attracted attention of modern physicists. Here we accumulate a collection of references, mostly from the point of view of mathematical physics.

From the point of view of fundamental physics, this research is also important, because it provides a different playground for our mathematical tools, then helping us to distinguish between physical principles and sophisticated mathematical tools.

Technical, historical and philosophical notes

(this section moved to a separate page. Comments are welcome!)


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Physics of Ownership

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