This book aims to discern and distinguish the essential features of basic economic theories and compare them with new theories
that have arisen in recent years. The book focuses on seminal economic ideas and theories developed mainly in the 1930s to
1950s because their emergence eventually led to new branches of economics. The book describes an alternative analytical framework
spreading through the interdisciplinary fields of socioeconophysics and sociodynamics. The focus is on a set of branching
or critical points that separate what has gone before from what has followed. W. Brian Arthur used the term "redomaining"
when he referred to technological innovation. In the present volume the author aims to re domain economic theories suited
for a new social order. Major technological innovations accompany not only changes in the economy and the market but changes
in their meaning as well. In particular, the evolution of trading technology has changed the meaning of the "invisible hand."
At the end of the last century, the advent of socioeconophysics became a decisive factor in the emergence of a new economic
science. This emergence has coincided with changes in the implications of the economy and the market, which consequently require
a redomaining of economic science. In this new enterprise, the joint efforts of many scientists outside traditional economics
have brought brilliant achievements such as power law distribution and network analysis, among others. However, the more diverse
the backgrounds of economic scientists, the less integrated the common views among them may be, resulting in a sometimes perplexing
potpourri of economic terminology. This book helps to mitigate those differences, shedding light on current alternative economic
theories and how they have evolved.