Quantitative Finance: Foundations and Applications
Further thoughts on mathematics and economics
Matheus Grasselli | Associate Professor and Sharcnet Chair in Financial Mathematics working with the PhiMac group in the Department of Mathematics and Statistics at McMaster University, currently Deputy Director at the Fields Institute
I am substantially in agreement here. Of course, math modeling is necessary in economics, just as in any rigorous endeavor involving quantity and especially quantitative systems. It's just that a model's implications should be accurately represented in terms of the model's limitations. This has often been violated in policy recommendation and political advocacy.