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Math in Economics

September 5th, 2013 Leave a comment Go to comments

I just posted this over at Volokh Conspiracy as a comment on Professor Coase’s dismay at the road economics has taken:

Coase could be nonmathematical because he was a genius. Ordinary economists aren’t smart enough; they need calculus. Ordinary people are still less intelligent, and they can’t do economic research at all. It’s like building a bridge. A genius can wing it; ordinary engineers need to use some physics; ordinary people will end up swimming.

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