Category: Methodology
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A Conless Macroeconomics?
I’m reading Vela Velupillai’s “Variations on the Theme of Conning in Mathematical Economics” (2007), which is one of his many contributions on the subject of the pathologies introduced into economic theorizing by insisting on the sole use of axiomatic mathematics (this is the kind of mathematics we think of when we think of mathematics, whereby…
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Undecidability, Incompleteness and Irreducibility in Mathematical Economics
This essay is written in the style of Morgenstern’s “Thirteen critical points in contemporary economic theory” (1972) Methodological thinkers in economics usually translate decision theory as it pertains to economic decisions as choice theory, that is, rational choice theory. The cutting edge may go as far to admit bounded rationality into their choice theory, but criticism…