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Bourbaki's Destructive Influence on the Mathematization of Economics

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  • K. Vela Velupillai

Abstract

The first appearance of a reference to a Bourbaki mathematical result was the spoof by D.D. Kosambi, published in the first volume of the Bulletin of the Academy of Sciences of the United Provinces of Agra and Oudh, eighty years ago, although it was not the first reference to Bourbaki in a mathematical context. In mathematical economics there seems to be an increasing identification of Debreu’s mathematization of economics with Bourbakism, although the Post WW II mathematics of general equilibrium theory can be shown to be consistent also with the contributions of the Polish School of Mathematics in the interwar period. In this paper an attempt is made to summarise the story of the emergence of Bourbakism, originating in India, and its recent demise as well as how it played a destructive role in mathematising economics in one, uncompromisingly nonconstructive, mode.

Suggested Citation

  • K. Vela Velupillai, 2012. "Bourbaki's Destructive Influence on the Mathematization of Economics," ASSRU Discussion Papers 1201, ASSRU - Algorithmic Social Science Research Unit.
    • Handle: RePEc:trn:utwpas:1201
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    References listed on IDEAS

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    1. Debreu, Gerard, 1984. "Economic Theory in the Mathematical Mode," American Economic Review, American Economic Association, vol. 74(3), pages 267-278, June.
    2. K. Vela Velupillai, 2011. "Freedom, Anarchy and Conformism in Academic Research," ASSRU Discussion Papers 1123, ASSRU - Algorithmic Social Science Research Unit.
    3. Debreu, Gerard, 1984. "Economic Theory in the Mathematical Mode," American Economic Review, American Economic Association, vol. 74(3), pages 267-278, June.
    4. Thomas Boylan & Paschal O'Gorman, 2009. "Kaldor on Debreu: The Critique of General Equilibrium Reconsidered," Review of Political Economy, Taylor & Francis Journals, vol. 21(3), pages 447-461.
    5. Nicola Giocoli, 2001. "Fixing the point: the contribution of early game theory to the tool-box of modern economics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 10(1), pages 1-39.
    6. Punzo, Lionello F., 1991. "The School of Mathematical Formalism and the Viennese Circle of Mathematical Economists," Journal of the History of Economic Thought, Cambridge University Press, vol. 13(1), pages 1-18, April.
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    More about this item

    Keywords

    Bourbakism; Polish School of Mathematics; Hilbert’s Dogma; Debreu; Mathematical Economics.;
    All these keywords.

    JEL classification:

    • B23 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Econometrics; Quantitative and Mathematical Studies
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • C69 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Other
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General

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