From statistical physics to social sciences.

Summary "The 1987 crash and the 2008 financial crisis are events that are incomprehensible within the framework of neo-classical economics. Their occurrence showed the limits, even the harmful character of this theory. A specialist in statistical physics, Jean-Philippe Bouchaud is one of the pioneers of econophysics, which applies the concepts and methods of statistical physics to economic systems and financial markets, considered as complex systems, the seat of phenomena such as imitation, contagion and collective panic. Just as interactions between molecules can lead to unexpected emergent behaviors, the transubstantiation of the individual in the collective is a fundamental ingredient for understanding certain socio-economic or financial crises".