Austrian and Mainstream Economics on Mathematics – a Comment on Pieniążek (2018): Reply to Machaj (2019)
Austrian and Mainstream Economics on Mathematics – a Comment on Pieniążek (2018): Reply to Machaj (2019)
Author(s): Piotr PieniążekSubject(s): Economy, Philosophy of Science, Methodology and research technology
Published by: Instytut Nauk Ekonomicznych Polskiej Akademii Nauk
Keywords: Austrian economics; mainstream economics; mathematical economics; economic methodology; praxeology;
Summary/Abstract: Machaj’s (2019) interesting comment on my original article (Pieniążek, 2018) makes several points. The major one is that in my discussion of the usefulness of the Austrian School of Economics’ (henceforth: ASE) tool of study, which is praxeology, I have drawn a faulty conclusion about its non-usefulness. Next, he discusses the status of mathematics as a language in general and in particular its applicability to economics. Finally, he tries to give an example of an ill-suited application of mathematics to economics by considering a neoclassical production function in the context of economic growth.
Journal: Ekonomista
- Issue Year: 2021
- Issue No: 3
- Page Range: 440-448
- Page Count: 9
- Language: English
