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Mathematics In Economics: Reducibility And/Or Applicability?

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  • SUNDAR SARUKKAI

    (Manipal Center for Philosophy and Humanities, Manipal University, Manipal 576104, India)

Abstract

The use of mathematics in physics is not restricted to non-formal use with emphasis on approximation and computability. There is also a domain of creative use of symbolic manipulation as well as of metaphoric imagination that makes applicability in the sciences so effective. The challenge to mathematical use in economics is to find ways to use it in these creative ways, including finding new discursive and writing strategies. For this to be possible, the nature of realism in economics has to be delineated since the way in which mathematics is used in economics seems to be in the "reductive" mode instead of the "applied" mode.

Suggested Citation

  • Sundar Sarukkai, 2012. "Mathematics In Economics: Reducibility And/Or Applicability?," New Mathematics and Natural Computation (NMNC), World Scientific Publishing Co. Pte. Ltd., vol. 8(01), pages 81-93.
    • Handle: RePEc:wsi:nmncxx:v:08:y:2012:i:01:n:s1793005712400042
    DOI: 10.1142/S1793005712400042
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    References listed on IDEAS

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    1. K. Vela Velupillai, 2008. "The Mathematization of Macroeconomics: A Recursive Revolution," Department of Economics Working Papers 0807, Department of Economics, University of Trento, Italia.
    2. K. Vela Velupillai, 2012. "Taming The Incomputable, Reconstructing The Nonconstructive And Deciding The Undecidable In Mathematical Economics," New Mathematics and Natural Computation (NMNC), World Scientific Publishing Co. Pte. Ltd., vol. 8(01), pages 5-51.
    3. Kumaraswamy Vela Velupillai, 2008. "The Mathematization of Macroeconomics. A Recursive Revolution," Economia politica, Società editrice il Mulino, issue 2, pages 283-316.
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