Mathiness in the Theory of Economic Growth
- (pp. 89-93)
AbstractMathiness lets academic politics masquerade as science. Like mathematical theory, mathiness uses a mixture of words and symbols, but instead of making tight links, it leaves ample room for slippage between statements in the languages of words as opposed to symbols, and between statements with theoretical as opposed to empirical content. Because it is difficult to distinguish machines from mathematical theory, the market for lemons tells us that the market for mathematical theory might collapse, leaving only machines as entertainment that is worth little but cheap to produce.
Citation2015. "Mathiness in the Theory of Economic Growth." American Economic Review, 105(5): 89-93. DOI: 10.1257/aer.p20151066
- A11 Role of Economics; Role of Economists; Market for Economists
- D72 Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- O41 One, Two, and Multisector Growth Models