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Axiomatization And Formalism In Economics

Author

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  • T.A. Boylan
  • P.F. O'Gorman
Abstract
In this paper we address a number of issues in the historiography and methodology of the formalization of economics in the twentieth century. We argue that Debreu's approach to formalism pursuing his Bourbakist programme was based on Hilbert's version of finitism. The latter project attempted to retain its place in Cantor's ‘paradise’ and in so doing bequeathed serious methodological consequences. There was, however, at the turn of the twentieth century an alternative version of finitism available, that provided by Poincaré, which if adopted by economics would have led to a radically different approach to economic theorizing and modelling. We argue that these reflections must be embedded in an alternative larger methodological framework.

Suggested Citation

  • T.A. Boylan & P.F. O'Gorman, 2007. "Axiomatization And Formalism In Economics," Journal of Economic Surveys, Wiley Blackwell, vol. 21(3), pages 426-446, July.
    • Handle: RePEc:bla:jecsur:v:21:y:2007:i:3:p:426-446
    DOI: 10.1111/j.1467-6419.2007.00509.x
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    References listed on IDEAS

    as
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    Cited by:

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    3. Kakarot-Handtke, Egmont, 2012. "Zur axiomatischen Einheit von Kreislauf-,Geld-, Preis- und Verteilungstheorie [The axiomatic unity of circuit, money, price and distribution]," MPRA Paper 44313, University Library of Munich, Germany.
    4. Kakarot-Handtke, Egmont, 2011. "Schumpeter and the essence of profit," MPRA Paper 31176, University Library of Munich, Germany.
    5. Kakarot-Handtke, Egmont, 2011. "The pure logic of value, profit, interest," MPRA Paper 30853, University Library of Munich, Germany.
    6. Kakarot-Handtke, Egmont, 2011. "Keynes’s missing axioms," MPRA Paper 32742, University Library of Munich, Germany, revised 11 Aug 2011.
    7. Simone Landini & Mauro Gallegati & J. Barkley Rosser, 2020. "Consistency and incompleteness in general equilibrium theory," Journal of Evolutionary Economics, Springer, vol. 30(1), pages 205-230, January.
    8. Kakarot-Handtke, Egmont, 2011. "Trade, productivity, income, and profit: the comparative advantage of structural axiomatic analysis," MPRA Paper 43872, University Library of Munich, Germany, revised 18 Jan 2012.
    9. Egmont Kakarot-Handtke, 2013. "The Emergence of Profit and Interest in the Monetary Circuit," World Economic Review, World Economics Association, vol. 2013(2), pages 106-106, February.
    10. Kakarot-Handtke, Egmont, 2013. "Settling the theory of saving," MPRA Paper 44479, University Library of Munich, Germany.
    11. Kakarot-Handtke, Egmont, 2013. "Toolism! A Critique of Econophysics," MPRA Paper 46630, University Library of Munich, Germany.
    12. Kakarot-Handtke, Egmont, 2010. "Axiomatic Basics of e-Economics," MPRA Paper 24331, University Library of Munich, Germany.
    13. Kakarot-Handtke, Egmont, 2011. "The wondrous effortlessness of unifying circuit-, money-, price- and distribution theory," MPRA Paper 31279, University Library of Munich, Germany.
    14. Kakarot-Handtke, Egmont, 2013. "Understanding Profit and the Markets: The Canonical Model," MPRA Paper 48691, University Library of Munich, Germany.
    15. Kakarot-Handtke, Egmont, 2011. "Properties of an economy without human beings," MPRA Paper 31497, University Library of Munich, Germany.

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