MATRIKS NO: BB18110495 NAME: YEE HWEE SY

Philip Mirowski. (1991). The when, the how and the why of mathematical expression in
the history of economics analysis. The Journal of Economic Perspectives, 5(1): 145-157.

Mathematical expression in the history of economics analysis, they look to be a view that the
movement towards its current flourishing was cumulative. Besides that, there was a powerful,
irresistible current of thought in the development of mathematical economics. The use of
mathematics from the first was invited by social phenomena for deductive
reasoning…economics was in a privileged position to respond to this invitation, in order to two
of its central concepts, commodity and price, are qualified in unique manner, as soon as
choosing units of measurement. Commodity –price as a matter of course apply the differential
calculus and linear algebra.

At the same time, among the practising economists are held notion are widely, I want
to argue they are not historically cogent. Economic discourse about the deployment of
mathematical expression enjoyed no one of two for an inexorable and unhindered progress, but
prefer two primary ruptures in the history of economic thought to characterise, attack blazing
in the rise of mathematical discourse of the inflection points. The major reason for such a
disconnected narrative is that, in the evolution of economic thinking, commonly the
participants were not taking into things that the subject element fundamentally expected
mathematical expression, while those great difficulty in building a community are so captivated
experienced that could acknowledge consequent to a formalism that was thought to be
applicable to economic matter.

I agree the cause that modern economists say prices as ratios actually projected onto
their daily exchange activities: (1) the cost will not occur without buying any things, (2) same
price will be paid by everyone for the same items, (3) the amount was paid in aggregate should
not be affect by the items are presented for purchase (4) the returning should be zero for the
net result of buying an items. Therefore it is so much important that algebra are compulsory to
explain modern market transaction is that market structures have anciently grew to the point
where the six axiom express the impersonal disposition of appropriation. And this has certainly
zero same with “equilibrium” as a substitute physics were borrowed by other metaphor. There
is less different that found in previous discussions than the role of mathematics in the history
of economic discourse which are considerations lead to a very different conception.