The paper discusses the possibility of constructing economic models using the methodology of model construction in classical mechanics. At the same time, unlike the “econophysical” approach, the properties of economic models are derived without involvement of any equivalent physical properties, but with account of the types of symmetry existing in the economic system. It has been shown that at ...

This essay is rather different than most of the others in the volume, because it deals in the main with theory rather with practice. But abstract theory can have profound political implications. Empirical evidence that market-oriented systems work better than centrally planned ones is overwhelming. Yet it is always open to the would-be planner to argue that previous designs were flawed, whereas...

The only uses of this work permitted are private study or research. Introduction Adam Smith is a towering fi gure in the history of economic thought. While he was by no means the fi rst to develop many of the ideas which underpinned the development of modern economics, nevertheless it is often the case that earlier thinkers are discussed in terms of the extent to which they anticipated Smith, o...