Evolutionary Foundations for Economic Science: How Can Scientists Study Evolving Economic Doctrines from the Last Centuries?

Yuji Aruka

This tutorial aims at figuring out briefly the essential features of economic theories, and comparing them with new theories developed in view of heterogeneous interaction and coordination. The tutor rather focuses the subjects of the tutorial on the economic ideas/ theories developed mainly in 1930s to 50s, because their emergence has bred seminally new branches for economics. As time goes by, this kind of economics is being updated for their own protection. These revisions however are out of scope of the tutorial. The tutorial rather prefers much more to describe an alternative analytical framework spreading out in the interdisciplinary field of socio/econo-physics and sociodynamics. The tutorial targets a set of branching /or critical points separating the previous one from the new one. B. Arthur (2009) used the term ˇ§re-domaningˇ¨ when he referred to innovation of technology. The tutor tries to re-domain economic theories suited for a new social system. Major technological innovations accompany not only the change of the economy and the market but also the meaning of them as well. In particular, the evolution of the trading technology has changed the meaning of ˇ§invisible hand.ˇ¨ At the end of the last century, actually, the advent of socio-econophysics has become decisive for the emergence of a new economic science. This emergence definitely coincides with a change of the implication of the economy and the market, which just asks us for a re-domaining of economic science. In the coming new enterprise many scientists outside the traditional economics are joining to achieve brilliant performances like a power law distribution, a network analysis, and so on. However, the more diverse the backgrounds of economic scientists gets, the less integrated the common views among them may be. The mess of economic terminologies might be consequently happening. The lecture may mitigate such conflicts of common knowledge among the present alternative economic theories.