Thursday, 24 January 2019

Mathematics ... he said

It has been said that any student who has studied economics has read Paul Samuelson's book "Economics - An introductory Analysis" at least once.

Samuelson aimed to bring clarity to economics. He knew that simple plain writing was essential to explain things to the public. But he also wanted to resolve debates which were made obscure by jargon. 

Towards this end he used mathematics to describe theories and work out their implications by solving equations.

The situation today is that difficult mathematics can obscure economics for the uninitiated!!

  Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2021 one half to David Card University of California, Berkeley, USA...