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This paper considers the actual problem of correlation of economics with other sciences, and namely with social sciences. The evolution of processes to solve the provisioning problem takes place in a social context. As a result, the economy is a subsystem and is interrelated with a variety of other social subsystems. These subsystems include economic, political, religious, social, geographic, demographic, legal, and moral systems. From the ancient times economics was treated as part of philosophy and religion.

The International Conferences on Economics and Social Sciences (ICESS) organized by Bucharest University of Economic Studies provide an opportunity for all those interested in Economics and Social Sciences to discuss and exchange research ideas. The papers presented at the Conference are available online in the Conference Proceedings series (ISSN 2704-6524): Volume 2019 Collaborative Research for Excellence in Economics and Social Sciences, ISBN 9788366675322 Volume 2020 Innovative Models to Revive the Global Economy, ISBN 9788395815072 Volume 2021 Resilience and Economic Intelligence Through Digitalization and Big Data Analytics, ISBN 9788366675704 The past years' uncertainties and pressures resulted from the pandemic, alongside new developments in social technology, 5G, cloud computing, augmented and virtual reality, generated the perfect setting for the metaverse to gain traction. Several companies found there's a critical need to redefine the work environment and started exploring the metaverse concept beyond the entertainment sector. Thus, new tools for collaboration and data visualization within a digital shared space are being created, aiming for a fully immersive interaction between the virtual and the physical worlds within the next few years. While still in its early developments, the metaverse can be seen as an extension of the social media platforms, and an opportunity to leverage remote work even further. ICESS 2022 provides a space for all those interested in Economics and Social Sciences to discuss and exchange research ideas in the light of the work environment, business model, and technological changes driven by COVID-19. We welcome both empirical and theoretical work that is broadly consistent with the conference's general theme. The main topics of the conference are focused on, but not limited to, the following sections: Applied Economics and Statistics and Data Science Management in the Metaverse Era – the Role of Digital Transformation in Fostering Recovery of Public and Private Organizations Financial perspectives in turbulent times Resilient Agri-food and Environmental Systems for Sustainable Development and Agile Entrepreneurship Innovative Strategies and Models in Higher Education Digitalization impact on economic recovery in the context of Covid-19 pandemic Digital Leadership and Resilient Entrepreneurship in the Metaverse Era Marketing and Sustainability The role of accounting frameworks and digitalization in fostering recovery Global world after crisis: towards a new economic model Building business in times of crisis through entrepreneurship Current challenges within demographic data: measurement, collection, retrieval, analysis and reporting Looking into the future of a legal metaverse? Experimental Economics SCIENTIFIC COMMITTEE 2022 ACELEANU Mirela, Bucharest University of Economic Studies, Romania ALBU Lucian, Academia Romana, Romania ANGHEL Ion, Bucharest University of Economic Studies, Romania ARROYO GALLARDO Javier, Complutense University of Madrid, Spain AUSLOOS Marcel, Leicester University, United Kingdom BEGALLI Diego

Cover -- Half Title -- Title Page -- Copyright Page -- Dedication -- Table of Contents -- Preface -- A Note on the Efficient Reading of This Book -- Acknowledgments -- Part I Economic Theory as Physics -- Introduction -- 1 Physics and Economics-A Theory Comparo -- 2 Physics and Economics-A Performance Comparo -- 3 Immortal Constants -- 4 Mitigations? -- Part I-The Gist -- Part II Branches of Economic Theory-Differential Disappointments -- 5 General Economic Equilibrium Is Neither -- 6 Macroeconomics: Theorem-Seeking, Forecasting Failure -- 7 Finance: It Works-but How?

The paper discusses measurement, primarily in economics, from both analytical and historical perspectives. The historical section traces the commitment to ordinalism on the part of economic theorists from the doctrinal disputes between classical economics and marginalism, through the struggle of orthodox economics against socialism down to the cold-war alliance between mathematical social science and anti-communist ideology. In economics the commitment to ordinalism led to the separation of theory from the quantitative measures that are computed in practice: price and quantity indexes, consumer surplus and real national product. The commitment to ordinality entered political science, via Arrow's 'impossibility theorem', effectively merging it with economics, and ensuring its sterility. How can a field that has as its central result the impossibility of democracy contribute to the design of democratic institutions? The analytical part of the paper deals with the quantitative measures mentioned above. I begin with the conceptual clarification that what these measures try to achieve is a restoration of the money metric that is lost when prices are variable. I conclude that there is only one measure that can be embedded in a satisfactory economic theory, free from unreasonable restrictions. It is the Törnqvist index as an approximation to its theoretical counterpart the Divisia index. The statistical agencies have at various times produced different measures for real national product and its components, as well as related concepts. I argue that all of these are flawed and that a single deflator should be used for the aggregate and the components. Ideally this should be a chained Törnqvist price index defined on aggregate consumption. The social sciences are split. The economic approach is abstract, focused on the assumption of rational and informed behavior, and tends to the political right. The sociological approach is empirical, stresses the non-rational aspects of human behavior and tends to the political left. I argue that the split is due to the fact that the empirical and theoretical traditions were never joined in the social sciences as they were in the natural sciences. I also argue that measurement can potentially help in healing this split.

I discuss the role of economic theory in empirical work in development economics with special emphasis on general equilibrium and political economy considerations. I argue that economic theory plays (should play) a central role in formulating models, estimates of which can be used for counterfactual and policy analysis. I discuss why counterfactual analysis based on microdata that ignores general equilibrium and political economy issues may lead to misleading conclusions. I illustrate the main arguments using examples from recent work in development economics and political economy.

There is a growing consensus in social sciences that there is a need for interdisciplinary research on the complexity of human behavior. At an age of crisis for both the economy and economic theory, economics is called upon to fruitfully cooperate with contiguous social disciplines. The term èconomics imperialism' refers to the expansion of economics to territories that lie outside the traditional domain of the discipline. Its critics argue that in starting with the assumption of maximizing behaviour, economics excludes the nuances of rival disciplines and has problems in interpreting real-world phenomena. This book focuses on a territory that persists to be largely intractable using the postulates of economics: that of primitive societies. In retracing the origins of economics imperialism back to the birth of the discipline, this volume argues that it offers a reductionist interpretation that is poor in interpretative power. By engaging with the neglected traditions of sociological and anthropological studies, the analysis offers suggestions for a more democratic cooperation between the social sciences. Economics as Social Science is of great interest to those who study history of economic thought, political economy and the history of economic anthropology, as well as history of social sciences and economic methodology.

Introduction: Economics and "the Economy" -- How Economics forgot Capitalism -- Economics Caught in a Physics Masquerade -- Rethinking Science and Social Science with Critical Realism -- Rethinking Marx and the Economic Science of Capital -- The Uno-Sekine Reconstruction of Capital: Microeconomics of Value, Macroeconomics of Crises -- Levels of Analysis in Marxian Political Economy -- Marxists and Marx's Unfinished Project in Capital -- Conclusion: Capital, Science and Political Economy in the Narrow and sense.