And so on. Here, the long time-scales make modelling far more speculative. Socially and morally, that is a bad thing. Economically, though, it seems to produce stability. But it would become dangerous if everyone drove at exactly the same speed is with wealth distribution.
Equality makes the economic system unstable and unable to adapt to changing circumstances.
Given the wide-ranging ideas that are being generated by econophysics, it hard to believe that this way of thinking about finance is only a few years old. Another meeting followed in Birmingham shortly afterwards. Again, it was a modest affair, where delegates were expected to bring their own sandwiches. But, within a year, the snowball had begun to roll. Apart from this academic success, Neil Johnson is particularly gratified to find so many undergraduates and graduate students getting hooked on the topic - and apparently for the right reasons.