Mathematisation of economics - original sin? Multifaceted analysis of influence and causes Cover Image

Matematyzacja ekonomii - grzech pierworodny? Wieloaspektowa analiza wpływu i przyczyn
Mathematisation of economics - original sin? Multifaceted analysis of influence and causes

Author(s): Aleksander Ostapiuk
Subject(s): Economy
Published by: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Keywords: neoclassical economics; mathematisation; homo oeconomicus; reductionism; formalism

Summary/Abstract: The aim of this article is to take a broad look at how mathematics has influenced economics and to critically analyse this process. The article begins with an analysis of the impact of mathematics on other sciences since the days of the ancient Greeks. Descartes is presented as a person who made that mathematics became a real queen of the sciences. Then the increase of the influence of mathematics on intellectual life is shown. Positivism is presented as a starting point which created a suitable atmosphere to begin the marginal revolution. From that moment mathematics has had an increasing impact on economics. The climax fell after World War II and the article shows that influence from different views. This article tries to find an answer why this mirage of economics and mathematics is possible and why neoclassical economics accepted it so willingly. The article also presents the negative consequences of this connection, with the crisis of the 2008 inclusive. At the end of the article the suggestion is proposed that economics should use mathematics as a tool, and not treat it as an end in itself.

  • Issue Year: 2017
  • Issue No: 13
  • Page Range: 91-104
  • Page Count: 14
  • Language: Polish