Noah Smith — like so many other mainstream economists — obviously has the unfounded and ridiculous idea that because heterodox people like yours truly, Hyman Minsky, Steve Keen, or Tony Lawson, often criticize the application of mathematics in mainstream economics, we are critical of math per se.
I don’t know how many times I’ve been asked to answer this straw-man objection to heterodox economics– but here we go again.Lars P. Syll’s Blog
Noah Smith — confusing mathematical masturbation with intercourse between research and reality
Lars P. Syll | Professor, Malmo University
So it is not that neoclassical economists have great mathematical tools. It’s that by failing to incorporate the framework of flow of funds, they are showing their incompetence in mathematical reasoning.Math is a tool box filled with various tools fit for different purposes. The art of using tools involves not only knowing how to use each tool properly but also how to choose the right tool for the job.
The Case for Concerted Action
Economics Without Mathematics?
Note: Noah Smith is a troll.