Understanding the relationship between mathematics and economics

Citation

Dow S (2003) Understanding the relationship between mathematics and economics. Journal of Post Keynesian Economics, 25 (4), pp. 547-560. http://www.jstor.org/stable/4538848

Abstract
Weintraub's study shows that mathematics does not provide a fixed point of reference for economics. He explains how the notions of rigor and consistency have changed within mathematics over the years, and how it has proved impossible to express mathematics itself as a complete formal system. As a result, we can see more clearly that there is methodological confusion embedded in much applied economics, which gives priority to mathematical expression. In providing this account, Weintraub raises historiographical issues, which we address here--notably who should construct histories, given the normative content of all approaches (including science studies)?

Keywords
mathematical economics; science studies

Journal
Journal of Post Keynesian Economics: Volume 25, Issue 4

People

Professor Sheila Dow

Emeritus Professor, Economics