A Note On Mathematical Economics

A Note On Mathematical Economics
- Highlight Loc. 74-79  | Added on Friday, November 11, 2011, 01:22 AM

I have grave philosophic doubts as to whether the concept of cause can really be expunged from physics. But whether or not it can, it certainly cannot be from economics. For in economics, the cause is known from the beginning — human action using means directed towards ends. From this we can deduce singly determined effects, not mutually determined equations. This is another reason that mathematics is uniquely unsuited to economics.