This article comes from Barrons.com, and talks about the future of the Dow Jones. Inevitably, people who don't know enough physics will want to make either a comparison, or an analogy, to some aspect of physics.
"Economics used to ignore liquidity risk, like Newton's laws ignore friction in physics," says Lasse Pedersen of New York University "However, now people are realizing similar frictions are central to what is going on in the economy."
This, of course, is totally wrong. Any physics student taking intro physics in college would have known this. Example: body on an inclined plane problem with friction involved. The whole point of drawing the free-body diagram in such a case is so that one can find the NET force acting on the body and applying F=ma (which is ONE of Newton's laws) to find the dynamics of the body. So Newton's Laws DO NOT ignore friction. The frictional force is like any other forces and there's nothing special about it.
This is another black eye for those in the economic/financial sector. It seems that, based on the past few posts in this blog, that I'm taking aim at this field. I'm not! It is the people who represent such a field and making stupid statements that are giving this field a bad name. If they just stick to what they know and keep their mouth shut on things that they don't, we would get along very well. But nooooo.... they somehow want to show off their ignorance of physics and hoping that those who read what they say don't know any better. And the sad thing is, they'll probably get away with these things too.