The economy in science principle is important since it guides scientific progress, development, it is inherent in validation criteria of new theories etc.
In a nutshell, it concerns
** minimally required assumptions to be used to establishing a theory
** minimally required adjustments to be employees to fix a flawed theory.
Using the second, Journal are Acceptin or rejevting articles, thus it guides discipline development.
Is this only in physics?
(This approach is intrinsic and more often unconsvious but part of the beauty and "coolness" of physics, along with max utilizing mental. Models such as probabilistic thinking, thought experiments, simple explanations.)