Abstract
The existing studies on the origin and history of mathematical economics are euro-centric and cover only the past two centuries. It is intended to show that 1) mathematical economics has an ancient origin. Kautilya wrote The Arthashastra during the fourth century BCE and used discrete marginal analysis and combinatory rules to sharpen economic analysis. 2) It is indicated that in the West, image of mathematics has changed directly and that of economics indirectly as the theology/philosophy of the church changed. 3) It is claimed that in India the developments in both economics and mathematics have always been simple, secular and user-friendly to solve problems related to agriculture, construction, navigation and trade.
Highlights
In recent years, [1] Ingrao and Israel (1990), [2] [3] Mirowski (1989, 1991) and [4] Weintraub (2002) have explored why and how of the emergence of mathematical economics in the western world during the last two centuries
Weintraub argues that the image of economics changed as the image of mathematics changed but without realizing that the image of mathematics in the west might have changed with the change in the theology/philosophy of the church
In an attempt to make mathematics perfect to conform to the image of God, it has become so complex that majority of the students cannot understand it and are turned off
Summary
In recent years, [1] Ingrao and Israel (1990), [2] [3] Mirowski (1989, 1991) and [4] Weintraub (2002) have explored why and how of the emergence of mathematical economics in the western world during the last two centuries. These works have been reviewed extensively and have generated both heat and light. Mathematics in India has been developed to solve practical problems and its role and image have not changed since the Harappa Civilization (2600 BCE-1800 BCE)
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
