Mathematics, metaphor and economic visualisability

Article

Phillips, Peter J.. 2007. "Mathematics, metaphor and economic visualisability." The Quarterly Journal of Austrian Economics. 10 (4), pp. 281-299. https://doi.org/10.1007/s12113-007-9024-0
Article Title

Mathematics, metaphor and economic visualisability

ERA Journal ID18276
Article CategoryArticle
Authors
AuthorPhillips, Peter J.
Journal TitleThe Quarterly Journal of Austrian Economics
Journal Citation10 (4), pp. 281-299
Number of Pages19
Year2007
ISSN1098-3708
1936-4806
Digital Object Identifier (DOI)https://doi.org/10.1007/s12113-007-9024-0
Abstract

The mathematisation of economic theory is an issue that has been discussed many times. These discussions have been dominated by debate about the appropriateness of the deductive method for economics. This rather narrow focus has pushed a number of important methodological issues regarding the nature of mathematical economics aside. In this paper, it is argued that mathematical economics involves the construction of metaphor and is therefore metaphorical in nature. Whilst mathematical economics has been responsible for what are generally regarded to be notable theoretical achievements and retains a place in economics as an apparatus for the development of economic science, the meaning of mathematical economics is restricted to those elements of economic reality that may be talked about in terms of mathematical objects and there is a danger of declining economic visualisability as the metaphors of mathematical economics become less vivid.

Keywordsmathematical economics; metaphors; economic visualisability;
ANZSRC Field of Research 2020470411. Sociolinguistics
380303. Mathematical economics
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File reproduced in accordance with the copyright policy of the publisher/author.

Byline AffiliationsSchool of Accounting, Economics and Finance
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