Mathematical economics is old enough to be respectable…
“Mathematical economics is old enough to be respectable, but not all economists respect it. It has powerful supporters and impressive testimonials, yet many capable economists deny that mathematics, except as a shorthand or expository device, can be applied to economic reasoning. There have even been rumors that mathematics is used in economics (and in other social sciences) either for the deliberate purpose of mystification or to confer dignity upon common places as French was once used in diplomatic communications.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Mathematical methods in economics are respected by some but doubted by many, who view them as either a useful shorthand or a pretentious veil.
In simple terms: Economics uses math, but opinions differ on its value.
Key Takeaway
Recognize both utility and limits of math in economics.
Themes
economics
mathematics
skepticism
methodology
authority
Mood
critical
analytical
skeptical
Type
analytical
critical
philosophical
When to use this quote
- academic research
- policy analysis
- teaching economics
- public debate
Key Concepts
formal modeling
epistemology
scientific rigor
Questions to Reflect On
- Do you rely on math for economic decisions?
- When does math enhance versus hinder understanding?
A Different Perspective
Mathematics can obscure insight if over‑emphasized.