Mathiness in the Theory of Economic Growth
American Economic Review · 2015 · Volume 105 · Issue 5
Abstract
Mathiness 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.
Keywords
Role of Economics, Role of Economists, Market for Economists, Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior, One, Two, and Multisector Growth Models
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