Friday, September 11, 2009

Update: Math in Economics

Paul Krugman clarifies his views on the use of math in economics. His take is almost identical to mine: math is a means not an ends. It is an extremely important tool that provides clarity and precision but it is not, in itself, the point. He states: "What I objected to in the mag article was the tendency to identify good math with good work." Indeed.

Krugman: "So by all means let’s have math in economics — but as our servant, not our master."

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