- #1
questioner1
- 6
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Hello,
Brief context to this question:
I'm an economics student and I've recently seen a lecture by phycisist-turned-economist Eric Weinstein, who says that "neoclassical economics is a naturally occurring gauge theory". In response to this, I tried to find out about group theory and gauge theory. My understanding is very rudimentary: My impression is that a group is something along the lines of a matrix of numbers combined with a rule of operation on that matrix.
So I am planning to develop a rigorous understanding of gauge theory, for its application in economics.My question is: could someone possibly explain what it means to say that "neoclassical economics is a gauge theory"? (to someone who does not have an understanding of gauge theory from a physics background)
Also, what exactly is the difference between gauge theory and group theory?
I hope my question is to the point, and for context, I am actually planning to study the mathematics of this in great detail once I have developed a general understanding.
Thank you :)
Brief context to this question:
I'm an economics student and I've recently seen a lecture by phycisist-turned-economist Eric Weinstein, who says that "neoclassical economics is a naturally occurring gauge theory". In response to this, I tried to find out about group theory and gauge theory. My understanding is very rudimentary: My impression is that a group is something along the lines of a matrix of numbers combined with a rule of operation on that matrix.
So I am planning to develop a rigorous understanding of gauge theory, for its application in economics.My question is: could someone possibly explain what it means to say that "neoclassical economics is a gauge theory"? (to someone who does not have an understanding of gauge theory from a physics background)
Also, what exactly is the difference between gauge theory and group theory?
I hope my question is to the point, and for context, I am actually planning to study the mathematics of this in great detail once I have developed a general understanding.
Thank you :)
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