In econophysics, Giuseppe Palomba (1908-1986) was an Italian mathematical economist, characterized as the “most prolific and talented” products the Pareto school (Pomini, 2014), noted for a large number of publications aimed at pushing forward the analogy with the physical world that was dear to his intellectual mentors Vilfredo Pareto and Luigi Amoroso.
In 1939, Palomba, in his Introduction to the Study of Economic Dynamics, introduced the Lotka-Volterra equations in economics
Palomba, in turn, attempted to demonstrate how large monopolistic or oligopolistic enterprises create a disturbance of the market which is similar to a gravitation field. [1]
American physical economics historian Philip Mirowski classifies Palomba (1968), as a “further out neosimulator”, in the history of non-neoclassical or anti-neoclassical economics programs of the appropriation of physics metaphors, that he has stumbled upon in his research, along with: Johannes Lisman (1949), Andrew Pikler (1951), Marc Lichnerowicz (1970), John Bryant (1982), and Edwin Jaynes (1983). [2]
Amoroso
Palomba studied economics under Luigi Amoroso (1886-1965), whose methodology, supposedly, was aimed at highlighting the analogies between economic and mechanical phenomena, and whose research program was responsible for the continuation and development of the work of Vilfredo Pareto. Amoroso, in his 1942 Economic Mechanics, e.g., tried to demonstrate how it is possible to use Einstein’s relativity equations in economics.
References
1. Pomini, Mario. (2014). The Paretian Tradition During the Interwar Period: From Dynamics to Growth (pg. 14). Routledge.
2. Mirowski, Philip. (1989). More Heat than Light: Economics as Social Physics, Physics as Nature’s Economics (pg. #). Cambridge University Press.
External links
● Giuseppe Palomba (economist) (Italian → English) – Wikipedia.
