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In: Historical perspectives on modern economics
Today, economic theory is a mathematical theory, but that was not always the case. Major changes in the ways economists presented their arguments to one another occurred between the late 1930s and the early 1950s; over that period the discipline became mathematized. Professor Weintraub, a noted scholar of the modern history of economic thought, argues that those changes were not merely cosmetic: The mathematical forms of the arguments significantly altered the substance of the arguments. Stabilizing Dynamics is particularly concerned with the ways in which the rich and confusing talk of the 1930s evolved, over a fifteen-year period, into technical analysis of some mathematical structures. The author describes the context for the history of that change, locating it in the broader intellectual currents, and shows how the history of modern economics can be seen as a confluence of several disparate traditions. Historiographically, this book offers one of the first constructivist accounts of modern economic analysis
In: Cambridge surveys of economic literature
This is the first full-length survey of current work which examines the compatibility of microeconomics and macroeconomics. Its particular distinction is that it makes accessible, to non-specialists, those extensive modern refinements of general equilibrium theory which are linked to macroeconomics and monetary theory. Part I traces the development and interlocking nature of two scientific research prgrams, macroeconomics and neo-Walrasian analysis. The five chapters in this part examine general equilibrium theory, Keynes' contribution, the 'neoclassical synthesis', and the Clower–Leijonhufvud contributions to questions of systemic coordination. The four chapters of Part II place recent work on the micro-foundations of macroeconomics within a taxonomic scheme of Walrasian equilibrium, Walrasian disequilibrium, Edgeworthian equilibrium, and Edgeworthian disequilibrium. Part III, a single chapter, provides an overview of the subject and ventures some conclusions
In: Springer eBook Collection
In: Macmillan Studies in Economics
In: Journal of the history of economic thought, S. 1-11
ISSN: 1469-9656
I defended my doctoral dissertation on stochastic stability of general equilibrium systems in Penn's Applied Mathematics program in fall 1968. That year I began teaching math for economists, mathematical economics, microeconomics, and even econometrics at Rutgers College, where I remained for a couple of years before moving to Duke. At Rutgers I saw that graduate students took required courses in micro, macro, statistics, math, and econometrics, and there were electives in other fields like public finance and economic history. I didn't know that there was any subdiscipline, or field, called the history of economic thought.
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In: Center for the History of Political Economy Working Paper Series No. 2020-05
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Working paper
In: History of political economy, Band 51, Heft 1, S. 77-81
ISSN: 1527-1919
In: History of political economy, Band 51, Heft 1, S. 129-135
ISSN: 1527-1919
In: Journal of the history of economic thought, Band 39, Heft 4, S. 571-597
ISSN: 1469-9656
Historians of the social sciences and historians of economics have come to agree that, in the United States, the 1940s transformation of economics from political economy to economic science was associated with economists' engagements with other disciplines—e.g., mathematics, statistics, operations research, physics, engineering, cybernetics—during and immediately after World War II. More controversially, some historians have also argued that the transformation was accelerated by economists' desires to be safe, to seek the protective coloration of mathematics and statistics, during the McCarthy period. This paper argues that that particular claim 1) is generally accepted, but 2) is unsupported by good evidence, and 3) what evidence there is suggests that the claim is false.
In: Journal of the history of economic thought, Band 39, Heft 3, S. 401-405
ISSN: 1469-9656
In: History of political economy, Band 48, Heft 2, S. 349-363
ISSN: 1527-1919
In this review essay of Steven G. Medema and Anthony M. C. Waterman's collection of some of Paul Samuelson's writings in the history of economics, the author argues that Samuelson's claim to have written "Whig history" is spurious. Moreover, the author argues that Samuelson's own writings on modern economics are, whether explicit or not, profoundly autobiographical. Samuelson, in constructing a literature ostensibly about contemporary economics, was simultaneously constructing a literature in which he and contemporary economics could be jointly considered and appraised.
Historians of the social sciences and historians of economics have come to agree that, in the United States, the 1940s transformation of economics from political economy to economic science was associated with economists' engagements with other disciplines—e.g. mathematics, statistics, operations research, physics, engineering, cybernetics—during and immediately after World War II. More controversially, some historians have also argued that the transformation was accelerated by economists' desires to be safe, to seek the protective coloration of mathematics and statistics, during the McCarthy period. This paper argues that that particular claim 1) is generally accepted, but 2) is unsupported by good evidence, and 3) what evidence there is suggests that the claim is false.
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In: Economic Research Initiatives at Duke (ERID) Working Paper No. 209
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Working paper