Recently one of the most prestigious schools of economics, London School of Economics, held an interesting debate between economists who prefer historical retrospective and economists who prefer mathematical modeling. Interestingly enough both sides of the debate agreed that neoclassical economic theory doesn't work well. But the answer why and its implications differ. Below you should see a YouTube video with the recording of the debate. We invite you to listen.

Around 1970 American economist Tom Schelling published couple well cited articles in which he tried to explain racial segregation observed in larger cities in US [1]. He tried to comprehend how and why racial neighborhoods were forming and becoming so prominent. He wanted to know if ubiquitous racial segregation is caused by rising racial tensions or the same result might be present in a rather tolerant society.

On December 18th contributor of Physics of Risk Aleksejus Kononovicius will defend his PhD thesis "Applications of Statistical Physics in Modeling of Financial Markets and Social Processes" (to obtain doctoral degree in Physics). The defense will start at 14 o'clock at the hall of VU Confucius Institute (A. Goštauto st. 12 - 432, 01108 Vilnius).

Representatives of hipster culture aim to look unique and original. But then, why they do all look the same? Simple answer might be formulated as follows - humans are unable to process information fast enough. Thus hipsters are unable to understand that their chosen previously unconventional look is already mainstream. More on this in the following video by DNews.

Here, on Physics of Risk, we discuss economic and social processes from physical point of view. The following One Minute Physics video shows that the opposite - understanding physical concepts from economical point of view - is also possible.