TAILIEUCHUNG - History of Economic Analysis part 97

History of Economic Analysis part 97. At the time of his death in 1950, Joseph Schumpeter-one of the major figures in economics during the first half of the 20th century-was working on his monumental History of Economic Analysis. A complete history of humankind's theoretical efforts to understand economic phenomena from ancient Greece to the present, this book is an important contribution to the history of ideas as well as to economics. | History of economic analysis 922 too inclusive they list every writing known to their authors that displays as much as a single symbol. clearly new methods of proof and disproof emerge the maximum of return may be distilled from the little we know about the form of the relations between our variables and the logic of infinitesimals disposes automatically of much controversial matter that without its help clogs the wheels of analytic Did space permit it could be shown instructively that a great part of the controversies of that period consisted simply of controversies between people who lacked a powerful tool of thought and people who possessed it. But some examples have been presented in the last chapter and others will occur in this. Since this kind of service consists simply in sharpening the edges of our analytic tools and therefore does not necessarily involve elaborate calculations a man s mathematics does not necessarily show on the surface of an argument mathematical theory is more than a translation of non-mathematical theory into the language of symbols but its results can in general be translated into non-mathematical language. This is the reason why the non-mathematical majority of economists never realized the full extent of their obligations to the mathematically trained minority the typical theorist never realized for instance that he did not fully understand Marshall who was careful to banish his mathematics from the surface of his argument. And so this majority found it easy to look upon those mathematical economists who did flaunt their mathematics as a particular sect or school that was of no particular importance to the profession at large. But mathematical economists form no school in any meaningful sense of the term any more than do those economists who read Italian all the differences of opinion that can be conceived to exist between economists at all a certain class of errors alone excepted may and do exist between the .

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