--- title: "Meaning & Key Takeaway of: Mathematical economics is old enough to…" description: "\"Mathematical economics is old enough to be respectable, but not all economists respect it. It has powerful supporters and impressive testimonials, yet ..." image: "https://sms4smile.com/quotes/i/359/james-r-newman-42796_capable_mathematical-economics-is-old-enough-to_2304634.png" --- # 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…” quote by James R Newman](https://sms4smile.com/quotes/i/359/james-r-newman-42796_capable_mathematical-economics-is-old-enough-to_2304634.png) [Download](https://sms4smile.com/quotes/i/359/james-r-newman-42796_capable_mathematical-economics-is-old-enough-to_2304634.png) [Open image](https://sms4smile.com/quotes/i/359/james-r-newman-42796_capable_mathematical-economics-is-old-enough-to_2304634.png) > “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.” [James R Newman](https://sms4smile.com/quotes/author/james-r-newman/) ## 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. ★ ★ ★ ★ ★ No ratings yet [Communication](https://sms4smile.com/quotes/about/communication/) [Deliberate](https://sms4smile.com/quotes/about/deliberate/) [Dignity](https://sms4smile.com/quotes/about/dignity/) [Economics](https://sms4smile.com/quotes/about/economics/) [Economist](https://sms4smile.com/quotes/about/economist/) [Economists](https://sms4smile.com/quotes/about/economists/) [Math](https://sms4smile.com/quotes/about/math/) [Mathematics](https://sms4smile.com/quotes/about/mathematics/) [Purpose](https://sms4smile.com/quotes/about/purpose/) [Reasoning](https://sms4smile.com/quotes/about/reasoning/) [Respect](https://sms4smile.com/quotes/about/respect/) [Rumor](https://sms4smile.com/quotes/about/rumor/) [Shorthand](https://sms4smile.com/quotes/about/shorthand/) [Social](https://sms4smile.com/quotes/about/social/) [Social science](https://sms4smile.com/quotes/about/social-science/) [Testimonial](https://sms4smile.com/quotes/about/testimonial/) ## Related quotes > [“This book is an essay in what is derogatorily called "literary economics," as opposed to mathematical economics, econometrics, or (embracing them both) the "new…](https://sms4smile.com/quotes/charles-p-kindleberger/this-book-is-an-essay-in-what-is-derogatorily-called-literary/) [Charles P. 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