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Brief context to this question:

I'm an economics student and I've recently seen a lecture by phycisist-turned-economist Eric Weinstein, who says that "neoclassical economics is a naturally occuring gauge theory". In response to this, I tried to find out about group theory and gauge theory. My understanding is very rudimentary: My impression is that a group is something along the lines of a matrix of numbers combined with a rule of operation on that matrix.

So I am planning to develop a rigorous understanding of gauge theory, for its application in economics.

My question is: could someone possibly explain what it means to say that "neoclassical economicsisa gauge theory"? (to someone who does not have an understanding of gauge theory from a physics background)

Also, what exactly is the difference between gauge theory and group theory?

I hope my question is to the point, and for context, I am actually planning to study the mathematics of this in great detail once I have developed a general understanding.

Thank you :)

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# What does it mean to say that something "is a gauge theory"?

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