Wednesday, August 2, 2017

Robert Paul Wolff — Mathematics in Economics

I think it is a mistake to ask whether economists should use mathematics. That is like asking whether an electrician should use a Philips screwdriver. The obvious reply is, For what? The really interesting foundational questions in economics can never be answered by introducing more sophisticated mathematical techniques, fun though they are. Before all else, one must decide what questions economics should be trying to answer.
Fir the tool to the job, not the job to the tool. Or to put it another way, if all you have is a hammer, every problem looks like a nail.

The Philosopher's Stone
Mathematics in Economics
Robert Paul Wolff | Professor Emeritus, University of Massachusetts Amherst

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