One may conclude that … theoretical analysis still has not yet absorbed and digested the simplest fact establishable by the most casual observation. This is a situation ready-made for armchair theorists willing to make a search for mathematical tools appropriate to the problems indicated. Since the mathematical difficulties have so far been the main obstacle, it may be desirable in initial attempts to select postulates mainly from the point of view of facilitating the analysis, in prudent disregard of the widespread scorn for such a procedure. Koopmans Three Essays was required reading when I took my doctorate course in microeconomics thirty-five years ago. Sad to say, it’s still relevant reading …
Topics:
Lars Pålsson Syll considers the following as important: Economics
This could be interesting, too:
Lars Pålsson Syll writes Daniel Waldenströms rappakalja om ojämlikheten
Peter Radford writes AJR, Nobel, and prompt engineering
Lars Pålsson Syll writes MMT explained
Lars Pålsson Syll writes Statens finanser funkar inte som du tror
One may conclude that … theoretical analysis still has not yet absorbed and digested the simplest fact establishable by the most casual observation. This is a situation ready-made for armchair theorists willing to make a search for mathematical tools appropriate to the problems indicated. Since the mathematical difficulties have so far been the main obstacle, it may be desirable in initial attempts to select postulates mainly from the point of view of facilitating the analysis, in prudent disregard of the widespread scorn for such a procedure.
Koopmans Three Essays was required reading when I took my doctorate course in microeconomics thirty-five years ago. Sad to say, it’s still relevant reading …