Discussing the critiques of the mathematization of economics: an economist’s perspective

Muhammad Riyadh Ghozali Lubis () and Muhammad Adlin Sila ()

Brazilian Journal of Political Economy, 2025, vol. 45, issue 4, 681-700

Abstract: The subjectivity and quantification, assumptions on a non-static mechanism,and value-free sciences are critical to account for the disfavor of the mathematization of economics.These elements are essential to argue because economics involves subjective humanbehavior and is a non-static mechanism that cannot be accurately quantified, making it difficultfor economics to conform to the value-free nature of science. This paper discusses severalideas of particular importance from which economics should be viewed and dealt with.This paper suggests that the mathematization of economics should not be seen as a tool toequate economics with other pure sciences. JEL Classification: A12; B40; B41; B59; C02.

Keywords: Mathematization of economics; subjectivity; quantification; evolutionary process; value-free science (search for similar items in EconPapers)
Date: 2025
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