Classical Econophysics

W. Paul Cockshott has a PhD in Computer Science from Edinburgh University and is currently Reader in Computer Science at University of Glasgow. Allin F. Cottrell is Professor of Economics at Wake Forest University, North Carolina and has a PhD from the University of Edinburgh. Gregory J. Michaelson is Professor of Computer Science at Heriot-Watt University, and is a Fellow of the British Computer Society. Ian P. Wright is a PhD student in Economics at the Open University. Victor M. Yakovenko is a Professor of Physics at the University of Maryland.

• Introduction 1. Problematizing Labour 2. Problematizing Information 3. Labour Productivity 4. From Machines to the Universal Machine 5. Information and Communication 6. Political economy: Value and Labour 7. The Probabilistic Approach to the Law of Value 8. Value in a Capitalist Economy 9. Farjoun and Machover’s theory of price 10. A probabilistic model of the social relations of capitalism 11. Money and the form of value 12. Credit and Capital 13. Understanding profit 14. Hayek on Information and Knowledge 15. The Big Picture, economic trajectories in Britain and China Appendix A: Proofs Appendix B: Experimental details Appendix C: Commodity Amplitude Space Appendix D: A simple planning program Appendix E: Profits in the SA model

'A challenging book which sheds further light on the field of econophysics as an interplay among economics, physics, and information theory, reading the past and the present with new analytical tools, and one which uses the past to provide new visions.'-- Nicola De Liso, University of Salento, Italy