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The Overuse of Mathematics in Economics: Nobel Resistance

Author

Listed:
  • Munir Quddus

    (University of Southern Indiana)

  • Salim Rashid

    (University of Illinois)

Abstract

Mathematics has become an integral part of 20th century economics. Mathematical techniques that were considered to be on the fringes of economics even a few decades ago are today considered mainstream economics. Economists presented considerable resistance in the past to the encroachment of mathematical methods in economics. This opposition in various forms continues today and may in fact be gaining momentum. This paper documents contemporary criticism of the overuse of mathematics in economics by, eminent mathematical economists and econometricians, especially Nobel laureates.

Suggested Citation

  • Munir Quddus & Salim Rashid, 1994. "The Overuse of Mathematics in Economics: Nobel Resistance," Eastern Economic Journal, Eastern Economic Association, vol. 20(3), pages 251-265, Summer.
    • Handle: RePEc:eej:eeconj:v:20:y:1994:i:3:p:251-265
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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume20/V20N3P251_265.pdf
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    Citations

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    Cited by:

    1. Martin Milkman & Riza Marjadi, 2017. "Undergraduate Mathematics Courses Required and Recommended for Admission to Economics PhD Programs in the United States," The American Economist, Sage Publications, vol. 62(1), pages 118-125, March.
    2. Dennis L. Weisman, 2021. "The Mathematical Revolution in Economics: Factor Flows in the Production of Academics," The American Economist, Sage Publications, vol. 66(2), pages 202-221, October.
    3. Turan Yay & Huseyin Tastan, 2010. "Invisible Hand in the Process of Making Economics or on the Method and Scope of Economics," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 57(1), pages 61-83, March.
    4. Suzuki, Tomo, 2003. "The epistemology of macroeconomic reality: The Keynesian Revolution from an accounting point of view," Accounting, Organizations and Society, Elsevier, vol. 28(5), pages 471-517, July.
    5. Snowdon, Brian & Vane, Howard R., 1996. "The development of modern macroeconomics: Reflections in the light of Johnson's analysis after twenty-five years," Journal of Macroeconomics, Elsevier, vol. 18(3), pages 381-401.

    More about this item

    Keywords

    Economics; Economists;

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • B23 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Econometrics; Quantitative and Mathematical Studies
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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