<p>Yes there are, the branch of economics doing this is called <a href="https://en.m.wikipedia.org/wiki/Econophysics" rel="nofollow noreferrer">Econophysics</a>.</p>
<p>However, it’s worth while noting that only some of the results of econophysics are accepted by profession. For example, gravity model of trade is widely  accepted, but other ideas are not.</p>
<p>This is because you can go only so far by trying to understand living endogenous mechanisms using concepts from physics.</p>

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2022-10-27T13:59:13.803Z
2022-10-27T13:59:13.803Z
1muflon1
<p>All living systems (up to and including societies and economies) are thermodynamically open, entropy reducing, flow networks. I am curious if there has been any attempt to understand economic systems in physical terms, or to form a physical basis for economic theory?</p>

<macroeconomics>
Are there any well developed physicalist theories of economics
Asklepian
# Are there any well developed physicalist theories of economics

(Asked by: username_0 on 2022-10-27)

All living systems (up to and including societies and economies) are thermodynamically open, entropy reducing, flow networks. I am curious if there has been any attempt to understand economic systems in physical terms, or to form a physical basis for economic theory?

**Tags:** macroeconomics


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## 1 answers

### Answer by username_1 on 2022-10-27. Score: 1

Yes there are, the branch of economics doing this is called [Econophysics](https://en.m.wikipedia.org/wiki/Econophysics).

However, it’s worth while noting that only some of the results of econophysics are accepted by profession. For example, gravity model of trade is widely accepted, but other ideas are not.

This is because you can go only so far by trying to understand living endogenous mechanisms using concepts from physics.


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