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On the application of mathematics to political economy. The Edgeworth-Walras-Bortkievicz Controversy, 1889-1891

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In the period of the first spread and consolidation of mathematical economics there was impotant debate on Walras's theory of exchange involving Edgeworth, Walras and Bortkievicz directly, and Marshall indirectly. The dispute may be traced back to issues involving the role of abstract reasoning and the use of mathematics in economics. The discussion reveals the clash of different methodological requirements: on the one hand, there is Walras's requirement of rigour and simplicity allowed by the reduction of economics to mathematical treatment; on the other hand, there is Edgeworth's requirement of greater realism in the model. Copyright 2007, Oxford University Press.

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File URL: http://www.cesmep.unito.it/WP/2003/6_WP_Cesmep.pdf
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Paper provided by University of Turin in its series CESMEP Working Papers with number 200306.

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Length: 22 pages
Date of creation: Jun 2003
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Handle: RePEc:uto:cesmep:200306

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Web page: http://www.unito.it/
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Cited by:
  1. stephane verani, 2005. "An Inquiry Into the Causes and Nature of Walras' Theory of Tatonnement," Economic History 0504001, EconWPA.

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