The aim of this paper is to address the question why the old Marx was interested in mathematics. While most interpreters argue that his interest was philosophical, it is maintained here that Marx tried to understand the developments of Economics and, particularly, of marginalism and that, in order to fully understand the new theoretical paradigma, he needed to study a particular branch of Mathematics, namely the derivatives.

In a Times Literary Supplement review of some recent literature on Marx and Marxism for a general readership, Jonathan Wolff claimed that Marx’s solution to the so-called “transformation problem” is “half-baked.” The aim of this paper is to challenge this complacent dismissal of some of Marx’s central economic ideas. In the process, I want to show that although the issues here are subtle and complex, Marx’s ideas retain a great deal of intuitive appeal, and his “solution” to the so-called “transformation (...) problem” is neither conceptually implausible nor mathematically dubious. Crucial to this aim is to show that Marx viewed the categories of (what he called bourgeois) economics through a social lens, which is given in the first chapter of the first volume of Capital. (shrink)

The aim of this paper is to address the question why the old Marx was interested in mathematics. While most interpreters argue that his interest was philosophical, it is maintained here that Marx tried to understand the developments of Economics and, particularly, of marginalism and that, in order to fully understand the new theoretical paradigma, he needed to study a particular branch of Mathematics, namely the derivatives.

This research aims at establishing the impact of information and communication technologies (ICT) on e-commerce development of industrial enterprises by means of economic and mathematical modelling. The goal was achieved using the following methods: theoretical generalization, analysis and synthesis (to critically analyse the scientific approaches of scientists regarding the expediency of using mathematical models in the context of enterprises’ e-commerce development), target, comparison and grouping (to reveal innovative methodological approach to assessing ICT impact on e-commerce development of industrial enterprises), tabular, (...) analytical and integral method (for summarizing the analysis results of enterprises readiness to implement ICT, ICT use in the activities of industrial enterprises of Ukraine and the analysis of e-commerce development), mathematical modelling (to build a regression model determining impact of changes in ICT use on the market share occupied by industrial enterprises), generalization (to determine promising directions of e-commerce developing of industrial enterprises). The implementation of a comprehensive approach to understanding the importance of ICT influence on e-commerce development of industrial enterprises will ensure acceleration of the digitalization of business processes, will contribute to the speed increase of enterprises response to customer requests, and increase the market share occupied by enterprises. A new vision of directions for developing e-commerce of industrial enterprises is suggested, which are determined by the need for enterprise rebranding, the development of e-commerce tools and technologies, the importance of outsourcing service automation and promotion of subscription trade. ICT is considered as integration factor that determines prospects for e-commerce development of industrial enterprises and contributes to increasing efficiency of online business management. Research results demonstrate that the use of economic and mathematical modelling is an important tool for assessing ICT impact, and its absence can negatively affect the accuracy and validity of online business management. (shrink)

The issue on whether the epistemological view of Engels and the Marxists can be identified to Marx opens the question on what Marx’s actual view on knowledge. This debate on Marx’s epistemology is divided between realist and idealist interpretation of his texts: the former reads that for Marx knowledge is a copy of an independent reality existing outside of man, while the latter views that for the same philosopher, knowledge is in some sense constructed by the subject. This study contributes (...) to the discussion by closely reading the epistemology of the Economic and Philosophic Manuscripts of 1844. The Manuscripts contain important epistemological remarks that are subject of scholarly debate. The scope of the study aims to read the texts on their own terms, and through that, avoid the reductive readings of Marx that plague his interpretations. Through this approach, this study argues that Marx in the Manuscripts conveys an idealist epistemology based on his concept on how human need shapes human cognition. Marx further develops this idealism in the texts in his critique of political economy, where he shows that this science is grounded on the estranged need. In the end, this study underscores that the Manuscripts’ idealism shows a part in Marx’s thinking that underlines the role cognition plays to address forms of estrangements brought by the structures of private property. It highlights how Marx empowers man as capable of resolving the estrangements in the society through the development of both action and cognition. (shrink)

This research paper attempts to get pragmatic way to deal with few questions like, 'Will Indian Economic thoughts be able to give directions to crises-ridden global economic system?', 'Can India show solutions to the World's Present Socio-economical crises?'' and What are the Alternatives available before mankind to avoid economic crises?' The concept of economic exploitation or “exploitation” which has been the focal point of solemn philosophical debate is one of the favorite nouns in the glossary of critics of the free (...) market economy. The strongest version of the claim that the free market necessarily involves exploitation is that of Karl Marx. The aim of this research paper is to bring to the notice of economist, policy makers, research scholars, professors and students of economics as well as of philosophy and layman, that what kind of solution, a Philosopher from India, like Prof. Surendra S. Barlingay has to offer to the discipline of economics at large. (shrink)

This doctoral thesis was prepared in 1975-77 at Ecole des Hautes Etudes en Sciences Sociales, Paris, under the supervision of Prof. Raymond ARON. It was submitted in 1977 in fulfilment of the requirements for a Ph.D. degree in Social Sciences (Doctorat de 3e cycle en sciences sociales). The oral examination (soutenance de thèse) was held in January 1978, with the examination committee consisting of Prof. Aron, Bartoli, Boudon and Brochier. This 250 page unpublished dissertation was the first study ever written (...) in French on Karl Marx's Grundrisse - a 1857-58 manuscript preparatory to Marx's main economic work, Capital. The dissertation reviews Marx's successive projects for his economic work since the 1844 Manuscripts and then proceeds to a presentation and critical discussion of Grundrisse. The proposed interpretation explains the linkage that Marx operated in 1857-58 between Ricardo's economics and Hegel's dialectics, and it emphasizes that Marx was at that time primarily trying to reconstruct the dynamics of capitalism, without going to the stage of developing a formal theory of value and exploitation, as he will eventually do in Capital. (shrink)

For Marx, capitalism depends upon and perpetuates a system of relationships whereby members of one class of persons, capitalists, enjoys extensive and pervasive social and economic advantages over others. But on Marx’s analysis, this system of being-taken-advantage-of—this system of economic exploitation—is not to be understood by appeal to discrete incidents of fraud, bad deals, theft, or under-remuneration. Rather, the central contention of Marx’s analysis, the contention analyzed, developed, and evaluated here, is that economic exploitation is class exploitation, a phenomenon that (...) occurs only within and because of the complex system of capitalist production. And it is because this system presupposes a set of oppressive social and economic ownership relations that are not freely chosen and yet govern the terms of participation in the economy and polity that it can be appropriately described as wrong or unjust. (shrink)

This study assessed students’ perception of teachers’ effectiveness and learning outcomes in mathematics and economics in secondary schools of Cross River State, Nigeria. Two null hypotheses were formulated to direct the study. The factorial research design was adopted for the study. Cluster and purposive sampling techniques were however employed in selecting a sample of 1,800 students from the three education zones in Cross River State. “Students’ Perception of Teachers Effectiveness Questionnaire (SPTEQ)”, Mathematics Achievement Test (MAT), and Economics Achievement (...) Test (EAT) were used as instruments for data collection. Reliability estimates of .86, .91, and .81 were obtained for the three instruments using Cronbach alpha. Collected data were analysed using descriptive statistics while the research question was answered and the null hypothesis tested using Pearson Correlation matrix and multiple regression analyses (where applicable), with the aid of Minitab v18. Findings revealed amongst others that, there is a significant composite influence of students’ perception of teachers’ motivational skills, teaching methods, relationship with students, and communication level on learning outcomes in Mathematics (F = 142.46, p < .05) and Economics (F = 150.31, p < .05) respectively. It was recommended amongst others that secondary school teachers should adopt motivational techniques such as praises, rewards, and smiles, in strengthening the interest of learners during mathematics and Economics lessons. Keywords:. (shrink)

Hedonism is a basic problem in society, especially in Indonesia. There are several negative impacts produced by hedonism such as poverty, debt problems, and social conflict. With an income level that does not match one's level of spending, this can cause an imbalance in one's financial condition. The economic theory of Marxism—which was pioneered by Karl Marx through one of his books entitled The capital—helps us to understand more about logical considerations when consuming and maximizing utility to fulfill the collective (...) interest. Capitalism creates a quite radical push in one's consumption activity, where by analysis Law Diminishing Marginal Utility, capitalists will easily make new innovations so that they can produce new commodities that are deliberately positioned as commodities needed by society. Debt to Income Ratio which is one of the ratios to measure the liability and income of entities can be used as a step to prevent or slow down the development of a culture of hedonism and raise collective awareness in the midst of a fairly chaotic capitalist system. (shrink)

The present yearbook (which is the fourth in the series) is subtitled Trends & Cycles. It is devoted to cyclical and trend dynamics in society and nature; special attention is paid to economic and demographic aspects, in particular to the mathematical modeling of the Malthusian and post-Malthusian traps' dynamics. An increasingly important role is played by new directions in historical research that study long-term dynamic processes and quantitative changes. This kind of history can hardly develop without the application of mathematical (...) methods. There is a tendency to study history as a system of various processes, within which one can detect waves and cycles of different lengths – from a few years to several centuries, or even millennia. The contributions to this yearbook present a qualitative and quantitative analysis of global historical, political, economic and demographic processes, as well as their mathematical models. This issue of the yearbook consists of three main sections: (I) Long-Term Trends in Nature and Society; (II) Cyclical Processes in Pre-industrial Societies; (III) Contemporary History and Processes. We hope that this issue of the yearbook will be interesting and useful both for historians and mathematicians, as well as for all those dealing with various social and natural sciences. (shrink)

There is hardly any theme in Karl Marx’s theoretical corpus that has garnered as much traction as his theory of fetishism. Ever since Marx introduced the term into his critique of political economy in Capital, fetishism became a field of theoretical force, creating its own gravitational center toward which the interest of later generations of historians, social theorists, and political activists has been pulled. While much ink has been spilled on the specific content and theoretical scope of fetishism in Capital (...) for over one and a half centuries, young Marx’s initial exploration of the term rarely enjoyed critical attention. This is especially true in regard to the period from his early journalism in the Rheinische Zeitung (1842–43) to his Economic and Philosophical Manuscripts of 1844. (shrink)

The city of Kruja (Albania)contains three types of dwellings that date back to different periods of time: the historic ones, the socialist ones, the modern ones. This paper has to deal only with the historic building's typology. The questionnaire that is applied will be considered for the development of mathematical regression based on specific data for this category. Variation between the relevant variables of the questionnaire is fairly or inverse-linked with a certain percentage of influence. The aim of this study (...) is to have better insights into the important role of building occupancy, people's lifestyle, economic level, and the quality of life of the residents in the inner medieval citadel, the physics characteristics, and the energy efficiency of the historical dwellings. The variables such as the number of residents, quality of life, the surface of the dwellings, heating instruments and time spent in the dwelling, current living conditions, monthly bills, level of satisfaction, restoration, and building improvements, interact with each other with probabilities with different positive or negative percentages. (shrink)

Mathematics is everywhere and yet its objects are nowhere. There may be five apples on the table but the number five itself is not to be found in, on, beside or anywhere near the apples. So if not in space and time, where are numbers and other mathematical objects such as perfect circles and functions? And how do we humans discover facts about them, be it Pythagoras’ Theorem or Fermat’s Last Theorem? The metaphysical question of what numbers are and the (...) epistemological question of how we know about them are central to the philosophy of mathematics. These and related philosophical questions are of particular interest because of mathematics’ unusual status. Mathematics is exceptional in that, on the one hand, it appears unhesitatingly true—no one doubts that 2 + 3 = 5—but on the other, as just noted, it is not about the physical world. This ambivalent status is what gives the philosophy of mathematics its special interest. The philosophy of mathematics is also one of the oldest academic fields, more or less coeval with philosophy itself. But contemporary philosophy of mathematics is rather different from its pre-twentieth-century antecedents, largely for three reasons. The first is that since the seventeenth century, mathematics has become integral to science. Science has over the past few centuries become increasingly mathematical, and indeed the fundamental science of nature, physics, is today recognised as a branch of applied mathematics. The second is that mathematics underwent a transformation in the course of nineteenth century: having started the century as a rather traditional-looking science of quantity it emerged a hundred years later a radically transformed abstract theory of structure. The final factor in the transformation of the philosophy of mathematics is the rise of modern logic. Developed by Frege, Cantor and others in the late nineteenth century, modern logic pervades contemporary mathematics, philosophy and computer science, and has had an immeasurable effect on the philosophy of mathematics. These volumes will collect the major works in this major field, with a focus on the last few decades. The anthology will include technical work, which interprets philosophically significant mathematical results or subfields of mathematics, as well as purely philosophical writing, aimed at those without advanced mathematics. The collection should be of interest to both philosophers and mathematicians, as well as to anyone who is susceptible to wondering what the main intellectual tool used in science, economics and finance, and indeed everyday life is ultimately about. (shrink)

Over the years, mathematics and statistics have become increasingly important in the social sciences1 . A look at history quickly confirms this claim. At the beginning of the 20th century most theories in the social sciences were formulated in qualitative terms while quantitative methods did not play a substantial role in their formulation and establishment. Moreover, many practitioners considered mathematical methods to be inappropriate and simply unsuited to foster our understanding of the social domain. Notably, the famous Methodenstreit also concerned (...) the role of mathematics in the social sciences. Here, mathematics was considered to be the method of the natural sciences from which the social sciences had to be separated during the period of maturation of these disciplines. All this changed by the end of the century. By then, mathematical, and especially statistical, methods were standardly used, and their value in the social sciences became relatively uncontested. The use of mathematical and statistical methods is now ubiquitous: Almost all social sciences rely on statistical methods to analyze data and form hypotheses, and almost all of them use (to a greater or lesser extent) a range of mathematical methods to help us understand the social world. Additional indication for the increasing importance of mathematical and statistical methods in the social sciences is the formation of new subdisciplines, and the establishment of specialized journals and societies. Indeed, subdisciplines such as Mathematical Psychology and Mathematical Sociology emerged, and corresponding journals such as The Journal of Mathematical Psychology (since 1964), The Journal of Mathematical Sociology (since 1976), Mathematical Social Sciences (since 1980) as well as the online journals Journal of Artificial Societies and Social Simulation (since 1998) and Mathematical Anthropology and Cultural Theory (since 2000) were established. What is more, societies such as the Society for Mathematical Psychology (since 1976) and the Mathematical Sociology Section of the American Sociological Association (since 1996) were founded. Similar developments can be observed in other countries. The mathematization of economics set in somewhat earlier (Vazquez 1995; Weintraub 2002). However, the use of mathematical methods in economics started booming only in the second half of the last century (Debreu 1991). Contemporary economics is dominated by the mathematical approach, although a certain style of doing economics became more and more under attack in the last decade or so. Recent developments in behavioral economics and experimental economics can also be understood as a reaction against the dominance (and limitations) of an overly mathematical approach to economics. There are similar debates in other social sciences. It is, however, important to stress that problems of one method (such as axiomatization or the use of set theory) can hardly be taken as a sign of bankruptcy of mathematical methods in the social sciences tout court. This chapter surveys mathematical and statistical methods used in the social sciences and discusses some of the philosophical questions they raise. It is divided into two parts. Sections 1 and 2 are devoted to mathematical methods, and Sections 3 to 7 to statistical methods. As several other chapters in this handbook provide detailed accounts of various mathematical methods, our remarks about the latter will be rather short and general. Statistical methods, on the other hand, will be discussed in-depth. (shrink)

In his famous article “The Unreasonable Effectiveness of Mathematics in the Natural Sciences” Eugen Wigner argues for a unique tie between mathematics and physics, invoking even religious language: “The miracle of the appropriateness of the language of mathematics for the formulation of the laws of physics is a wonderful gift which we neither understand nor deserve”. The possible existence of such a unique match between mathematics and physics has been extensively discussed by philosophers and historians of mathematics. Whatever the merits (...) of this claim are, a further question can be posed with regard to mathematization in science more generally: What happens when we leave the area of theories and laws of physics and move over to the realm of mathematical modeling in interdisciplinary contexts? Namely, in modeling the phenomena specific to biology or economics, for instance, scientists often use methods that have their origin in physics. How is this kind of mathematical modeling justified? (shrink)

The question of “how one should philosophize?” is driven not only out of the desire to have a glimpse of the ideas worthy to be regarded as true, but also to address the pressing problems of the time. Marx’s humanism, as articulated mainly in the Economic and Philosophic Manuscripts of 1844, suggests a certain thinking that addresses the latter. It is the humanism that discovers the concrete estrangement of workers from the abstraction of the political economy at the backdrop of (...) human emancipation. Heidegger, however, in the Letter on Humanism, poses critical challenge against the humanism Marx suggested. He questions Marx’s humanism (and the humanism in totality) to provide the human being direction to attain its essential humanity, and not just relegate man into inhumanity of animalitas. The paper critically examines the ideas given by Heidegger. Although Heidegger could be correct in his examination of the previous humanism, which includes Marx, how he understands the essence of man as “ek-sistence” is but a form of abstraction, an abstraction which is based in his inhuman concept of thinking. The paper does not entirely denounce Heidegger’s thinking, but appeals to recognize the dangers containing in its ambiguity and abstractness. Marx’s humanism, on the other hand, though has forgotten being, is more concrete. With this, the paper calls to repose the tasks and the questions of humanism, and directs thinking out from the dangers of abstraction to concrete understanding of human beings, their problems and solutions. (shrink)

The focus of this chapter is on efforts to create a new mathematics, with my prime interest being the role of mathematics in comprehending a world consisting first and foremost of processes, and examining what developments in mathematics are required for this. I am particularly interested in developments in mathematics able to do justice to the reality of life. Such mathematics could provide the basis for advancing ecology, human ecology and ecological economics and thereby assist in the transformation of (...) society and civilization so that we augment life rather than undermining the conditions for our existence. It was in the process of grappling with these problems that I was drawn to investigate the tradition of intuitionism in mathematics and the role of intuition in mathematics, science and philosophy, and then to consider Whitehead’s work on mathematics and its philosophy in relation to these. (shrink)

Contemporary mainstream economics cannot be seen as disconnected from philosophical concerns. On the contrary, it should be understood as a defence for a specific philosophy, namely, crude quantitative hedonism where money would measure pleasure and pain. Disguised among a great mathematical apparatus involving utility functions, supply, and demand, lies a specific hedonist philosophy that every year is lectured to thousands of economic and business students around the world. This hedonist philosophy is much less sophisticated than that in ancient hedonist (...) philosophers as Epicurus or Lucretius. Furthermore, it does not solve any of the systematic difficulties regularly faced by hedonist philosophy. However, the argument that economics is detached from philosophy works as a rhetorical artifice to protect its dominant underlying philosophy: Philosophical disputes would have to be addressed within the biased mathematical apparatus of quantitative hedonism. Economists and business students must learn to identify the underlying philosophy in mainstream economics and alternative philosophical systems. (shrink)

Marx's concept of alienation has proven to be a subject of controversy for many social theorists. One of the more provocative treatments of this concept has been outlined by Jean-Paul Sartre. Drawing heavily on Marxism's Hegelian tradition, Sartre portrays alienation as being a crucial element in the formation of the individual's perception of social reality. An appreciation of Sartre's project and its relevance to Marxist theory necessitates the examination of the origins and development of the concept of alienation. For this (...) purpose, a brief account of Hegel's usage of the term is followed by a discussion of Feuerbach's efforts to counter Hegelian idealism with an explicitly materialist perspective. Alienation makes its first appearance in Marx's work with the publication of the Economic and Philosophical Manuscripts of 1844 and the concept was to be a topic of concern throughout Marx's life. In particular, his analysis of commodity fetishism in his later work shows an obvious connection with alienation. Georg Lukacs' presentation of the reification of consciousness is a valuable addition to the examination of the fetishism of commodities. Lukacs provides numerous insights concerning the relationship between alienation and commodity fetishism as well as offering a useful articulation of the role of consciousness in Marxist theory. Lukacs' contribution is especially helpful in clarifying the nature of Sartre's project. Both theorists seek to outline an exposition of consciousness which counters idealistic excesses with a materialistic perspective faithful to the basic tenents of Marxism. In addition, Sartre employs the notion of reification as well as that of alienation in his psychoanalytic approach. His technique is intended to illuminate the class biases inherent in the consciousness of each individual, a proposal which finds an immediate application in explaining the distorted awareness which petit bourgeois intellectuals such as Lukacs and Sartre himself bring to the study of Marx's method. (shrink)

The article considers the problem of ensuring the economic security of trade enterprises by forming an optimal pricing policy. The methodology of formation the minimum and maximum selling prices of trade enterprise, maintenance of margin of economic security, which is based on research of turnover costs and working capital of trade enterprise is offered. Based on statistical data of trade enterprises, the types of prices by product range are determined, which form a stable economic situation and ensure economic security of (...) trade enterprise. The necessity of forming the optimal price policy and selling prices of trade enterprises with the use of Pareto efficiency tools and construction of single-criteria and multi-criteria tasks, indicators of quality of commodity resources of trade enterprises is substantiated. Using the Excel software processor and the «Regression» function, economic-mathematical models of optimal prices for the product range of trade enterprises are built. The results testified to the effectiveness of the proposed model of the optimal pricing policy of trade enterprises, as the obtained values are within the minimum selling prices, which provides economic security of trade enterprises. The process of forming the pricing policy of trade enterprises to ensure economic security is proposed, which is based on the principles of pricing, appropriate methodological tools and monitoring of market environment factors. Organizational, economic, legal, social and market (marketing) mechanisms for the formation of effective pricing policy of trade enterprises aimed at ensuring economic security are identified. This study is practically interesting for personnel of trade enterprises, regardless of organizationallegal forms of ownership and activities, and theoretically – for researchers dealing with pricing. (shrink)

Several areas of welfare economics seek to evaluate states of affairs as a function of interpersonally comparable individual utilities. The aim is to map each state of affairs onto a vector of individual utilities, and then to produce an ordering of these vectors that can be represented by a mathematical function assigning a real number to each. When this approach is used in intertemporal contexts, a central theoretical question concerns the evaluative weight to be applied to utility coming at (...) different times. This question concerns the rate of pure time preference, which is one key determinant of the social discount rate. This article argues that the standard philosophical account of pure time preference is mistaken, because it ascribes to economists a methodological commitment they need not, and often do not, accept. This in turn undercuts the most common philosophical objection to pure time preference, which traces at least to Rawls’s A Theory of Justice. The article then evaluates three further objections to pure time preference, concluding that it might still be defensible under certain circumstances. The article closes by articulating a final argument that is suggested by the “Social, Economic and Ethical Concepts and Methods” chapter of the most recent Intergovernmental Panel on Climate Change report. If this further argument is sound, it would constitute a decisive objection to pure time preference as it currently figures in much intertemporal welfare economics. (shrink)

Irfan Ajvazi's forthcoming book from Idea Books (July, 2021): -/- "In Defense of Karl Marx seems the politics of the Left, the criticism of neo-liberalism, and the capitalist class of the powerful tyranny who brings inequalities and the discrimination of Working Class and the Workers. From the conception of freedom, Irfan looks the Politics of Neo-liberalism , Capitalism, and the Tyrannies as a destructive force in the ideological struggle, The Book calculate the economics of the communism and the History (...) of Philosophy, with a Hegelian Dialectics and Lacanian theory mixing also the rational argument of Spinoza and Kant.". (shrink)

Without doubt, the principle of least action is a fundamental principle in classical mechanics. Contemporary physicists, however, consider the PLA as a purely mathematical principle – even an axiom which they cannot completely justify. Such an account stands in sharp contrast with the historical meaning of the PLA. When the principle was introduced in the 1740s, by Pierre-Louis Moreau de Maupertuis, its meaning was much more versatile. For Maupertuis the principle of least action signified that nature is thrifty or economical (...) in all its actions, i.e., that nature avoids to do anything unnecessary. Maupertuis understood the principle in teleological terms and even considered the principle as an expression of God’s wisdom. It has been correctly pointed out by historians that Maupertuis in his later years moved towards a more speculative and metaphysical approach, whereas his contemporary Euler and later Lagrange, wanted to avoid such theological and metaphysical implications and frame the PLA in purely mathematical terms. Such readings, however, have had the unintended side-effect that they lose out of sight the question how the mathematical and metaphysical aspect of the principle of least action fit together within Maupertuis’ own work. Investigating if and how the mathematical and metaphysical aspects of the PLA are compatible within Maupertuis’ thought will be the main goal of this paper. (shrink)

Scientists and engineers seek to understand how real-world systems work and could work better. Any modeling method devised for such purposes must simplify reality. Ideally, however, the modeling method should be flexible as well as logically rigorous; it should permit model simplifications to be appropriately tailored for the specific purpose at hand. Flexibility and logical rigor have been the two key goals motivating the development of Agent-based Computational Economics (ACE), a completely agent-based modeling method characterized by seven specific modeling (...) principles. This perspective provides an overview of ACE, a brief history of its development, and its role within a broader spectrum of experiment-based modeling methods. (shrink)

The current appeal of non-standard economic alternatives is backgrounded against the vulnerability of mainstream capitalism to meltdown and crisis as shown in recent times. There is an increasing number of governments, institutions, and civil societies (NGOs) that have been advocating economic systems, structures, or dynamics that would promote the good of the human person (dignity, personhood, values, and worth). People have started to realize that doing economics is not always within the realm of rationalized judgments and mathematized calculations (highly (...) impersonal) but must look after the human person, at all costs. This paper attempts to contribute to this agendum by employing an interdisciplinary dialogue between theology and economics; drawing a moral-cultural framework towards a compassion-based economics. Together with the positive traits of today’s economic alternatives and the salient features of Jesus’ praxis of compassion, this paper would offer fourteen (14) criteria as basis for what could be the most feasible base/locus for an economics of compassion. Eventually, what has been considered as the suitable base/locus is the Basic Ecclesial Communities (BECs). Hence, a BEC-based Economics of Compassion or BEC-EC. (shrink)

The origins of testing scientific models with statistical techniques go back to 18th century mathematics. However, the modern theory of statistical testing was primarily developed through the work of Sir R.A. Fisher, Jerzy Neyman, and Egon Pearson in the inter-war period. Some of Fisher's papers on testing were published in economics journals (Fisher, 1923, 1935) and exerted a notable influence on the discipline. The development of econometrics and the rise of quantitative economic models in the mid-20th century made statistical (...) significance testing a commonplace, albeit controversial tool within economics. -/- In the debate about significance testing, methodological controversies intertwine with epistemological issues and sociological developments. Our aim in this chapter is to expound these connections and to show how the use of, and the debate about, significance testing in economics differs from other social sciences, such as psychology. (shrink)

K. Marx’s 200th jubilee coincides with the celebration of the 85 years from the first publication of his “Mathematical Manuscripts” in 1933. Its editor, Sofia Alexandrovna Yanovskaya (1896–1966), was a renowned Soviet mathematician, whose significant studies on the foundations of mathematics and mathematical logic, as well as on the history and philosophy of mathematics are unduly neglected nowadays. Yanovskaya, as a militant Marxist, was actively engaged in the ideological confrontation with idealism and its influence on modern mathematics and their interpretation. (...) Concomitantly, she was one of the pioneers of mathematical logic in the Soviet Union, in an era of fierce disputes on its compatibility with Marxist philosophy. Yanovskaya managed to embrace in an originally Marxist spirit the contemporary level of logico-philosophical research of her time. Due to her highly esteemed status within Soviet academia, she became one of the most significant pillars for the culmination of modern mathematics in the Soviet Union. In this paper, I attempt to trace the influence of the complex socio-cultural context of the first decades of the Soviet Union on Yanovskaya’s work. Among the several issues I discuss, her encounter with L. Wittgenstein is striking. (shrink)

Francis Ysidro Edgeworth’s unduly neglected monograph New and Old Methods of Ethics (1877) advances a highly sophisticated and mathematized account of social well-being in the utilitarian tradition of his 19th-century contemporaries. This article illustrates how his usage of the ‘calculus of variations’ was combined with findings from empirical psychology and economic theory to construct a consequentialist axiological framework. A conclusion is drawn that Edgeworth is a methodological predecessor to several important methods, ideas, and issues that continue to be discussed in (...) contemporary social well-being studies. (shrink)

This dissertation attempts to settle some challenging historiographic issues concerning the origin and development of the concept of economic equilibrium. Specifically, our research goal is to identify the philosophical and historical drivers of the mathematization of economic theory. To this end, we attempt to answer three fundamental research questions. First, why (and not how) has economics become a mathematical science? Second, what are the major methodological blunders that lie at the foundations of Modern General Equilibrium Theory? Third, is the (...) contemporary criticism of Modern General Equilibrium Theory meaningful and well-founded? In order, chapters 1-3 address the first question, chapters 4 and 5 address the second, whereas chapter 6 addresses the third question. Regarding the first question, we investigate the methodological relationships between Modern Physics, Modern Philosophy, and Walras’s Theory of General Equilibrium. Interestingly, our findings reveal that while the study of motion in Modern Physics relies upon a clear distinction between static and dynamic equilibrium, early mathematical economics borrows its methodology from Modern Physics but relies upon an Aristotelian conception of equilibrium. Furthermore, we identify exciting analogies between Kant’s philosophy and Walras’s Elements. Finally, we show that the so-called Walras Paradox also features another unexplored dimension. Namely, Walras’s work overall relies upon a bottom-up approach to mathematics. Yet Walras’s work includes problems that require a top-down approach to mathematics to be solved. Regarding the second question, we delve into the tight relationship between the History of Mathematics in the 19th Century, the Philosophy of Mathematics in the 20th Century, and the development of Modern General Equilibrium Theory in the 20th Century. Notably, we find that the top-down approach to mathematics provides economists with a reliable methodology to resolve the problems in Walras’s original work. Hence, the mathematization of General Equilibrium Theory in the 20th Century is a child of its time that carries the inapplicability of pure mathematics to real-world problems along with itself. Therefore, although the mathematization of General Equilibrium Theory is an unprecedented milestone in economic theory, the foundations of Modern General Equilibrium Theory inherit the methodological shortcomings of Contemporary Mathematics. That is why the Sonnenschein-Mantel-Debreu does not overtake the Aristotelian conception of equilibrium. Accordingly, we rebut the claim that Debreu and colleagues' mathematization of General Equilibrium Theory resolves the fundamental methodological shortcomings of Walras’s original work. Eventually, we use our answers to our first and second research questions to address the contemporary criticism of General Equilibrium Theory. On the one hand, we show that the latter criticism does not account for the fact that General Equilibrium Theory inherits the scientific realism and determinism of Modern Physics. In other words, we argue that the inability of General Equilibrium models to manage uncertainty effectively has nothing to do with its mathematization in the 20th Century. Instead, it results from the unexplored dimension of the Walras Paradox, which we uncover. On the other hand, we show that common accusations of inconsistency, incompleteness, and undecidability in General Equilibrium Theory are ill-founded. That is because other rigorous alternatives to axiomatization in economics are not paradox-free. On these grounds, we conclude that a much better option is to employ a topic-neutral language to provide rigorous presentations of contested concepts in economics. Particularly, we show that formal mereology offers a convenient methodological framework to resolve the disagreement between the Neoclassical and Institutionalist economists’ respective definitions of the concept of the market. In this way, we show that the latter concept is definable as a process. But, more importantly, we note that formal mereology also offers a convenient framework to reformulate other economic concepts concisely and rigorously. In this regard, we observe that formal mereology might provide a resolution for Hayek’s Problem because it would enable economists to define general equilibrium as a perduring socioeconomic process. -/- In case you want a copy of my dissertation, please email me. (shrink)

Unification of natural science and social science is a centuries-old, unmitigated debate. Natural science has a chronological advantage over social science because the latter took time to include many social phenomena in its fold. History of science witnessed quite a number of efforts by social scientists to fit this discipline in a rational if not mathematical framework. On the other hand a tendency among some physicists has been observed especially since the last century to recast a number of social phenomena (...) in the mould of events taking place in physical world and governed by well-known systems and equations of physics. It necessitated the introduction of social physics as a new inter-disciplinary subject. Obviously this attempt is aimed at explaining hitherto unsolved or highly debated issues of social science. Physicists are showing special interest on problems on economics, ranging from some topics of normative economics to the movement of prices of derivatives. Statistics has been widely used in these attempts and at least two sub-disciplines of the subject, namely, stochastic process and time series analysis deserve special mention. All these research activities gave birth to another inter-disciplinary subject named as econophysics. Interestingly, global financial crisis of 2007–08 has revived the need of determination of prices of derivatives in a more accurate manner. This article adumbrates a sketch of the theoretical synthesis between physics and economics and the role played by statistics in this process. (shrink)

One striking feature of the contemporary modelling practice is its interdisciplinary nature. The same equation forms, and mathematical and computational methods, are used across different disciplines, as well as within the same discipline. Are there, then, differences between intra- and interdisciplinary transfer, and can the comparison between the two provide more insight on the challenges of interdisciplinary theoretical work? We will study the development and various uses of the Ising model within physics, contrasting them to its applications to socio-economic systems. (...) While the renormalization group methods justify the transfer of the Ising model within physics – by ascribing them to the same universality class – its application to socio-economic phenomena has no such theoretical grounding. As a result, the insights gained by modelling socio-economic phenomena by the Ising model may remain limited. (shrink)

At first blush, values such as diversity appear to be worth striving for. The question is whether or not such values—which have become increasingly prevalent in university mission statements—are values as such, which is to ask whether they are things of moral worth (Value, n.d.), or are something else altogether. My unpopular suspicion leans toward the latter. Personal opinions, of course, are hardly a justification for an impassioned critique, however, my opinions mirror those held by moderate and conservative witnesses to (...) the sociopolitical climate of academia (Pew Research Center, 2017) as well as individuals who would typically be considered classically liberal such as Peter Boghossian (2021). Because of this concordance and in order to understand the constitutive relations of academic production, it becomes necessary to critically examine the nature of institutional values, separate from polemical rhetoric that either seeks to construct a "straw man" of them in order to lay them low or insulate them from outside reproach altogether Since "diversity" seems to be the chief concern among interested groups both in the academic setting and the world at large, this article's point of access to the relations of production in academia will be anchored by a Marxian assessment of diversity as a product of social labour in the academic environment. (shrink)

Templates travel because they offer a tractable format that can be used for model-building in a variety of domains. It is often because of this quality that a particular template is chosen. But one cannot assume that there are always templates ready to model a new phenomenon, and moreover, templates have also been designed at some point. A critical aspect of this designing process is the choice of the mathematical objects with which one hopes to capture this phenomenon. This means (...) that one has to assess which of the properties of different kinds of mathematical objects and which combinations of them are most appropriate. The selection of these objects is based on whether their properties enable the model to perform its function. This selection of mathematical objects is similar to the selection of materials in mechanical design. (shrink)

The foundation of Economic failures to solve the economic problems is in the epistemological contradiction and failures of Economic Theories. This paper shows the most important contradictions in the Big Paradigms of the las centuries (Marx, Walras, Keynes).

There is growing concern that decision-making informed by machine learning (ML) algorithms may unfairly discriminate based on personal demographic attributes, such as race and gender. Scholars have responded by introducing numerous mathematical definitions of fairness to test the algorithm, many of which are in conflict with one another. However, these reductionist representations of fairness often bear little resemblance to real-life fairness considerations, which in practice are highly contextual. Moreover, fairness metrics tend to be implemented in narrow and targeted toolkits that (...) are difficult to integrate into an algorithm’s broader ethical assessment. In this paper, we derive lessons from ethical philosophy and welfare economics as they relate to the contextual factors relevant for fairness. In particular we highlight the debate around acceptability of particular inequalities and the inextricable links between fairness, welfare and autonomy. We propose Key Ethics Indicators (KEIs) as a way towards providing a more holistic understanding of whether or not an algorithm is aligned to the decision-maker’s ethical values. (shrink)

Goodwill is an intangible asset that we can find in a company's accounting cycle. Goodwill is basically subject to depreciation and the measurement related to the amount of depreciation of goodwill does not yet have a strong enough basis so that the assessment of goodwill tends to be subjective and based on management's interests, the impact of this subjective assessment is a failure to present good financial statements and can trigger decision-making errors for third parties. internal or external. The asymmetry (...) of the philosophy of economic materialism is an approach that can be used to repress or negate goodwill by providing an alternative to eliminating goodwill. However, this Philosophical Asymmetry of Economic Materialism is not a final approach because it still depends on several factors that will influence it. Ethical utilitarianism is one of the factors that can influence the effectiveness and implementation of the Philosophical Asymmetry of Economic Materialism as a form of increasing profits and optimizing costs to be incurred by companies in the future. Philosophical asymmetry of Economic Materialism seeks to suppress or negate the existence of goodwill as a form of ethical utilitarianism in the business environment. (shrink)

The aim of this paper is to investigate the current debate on the state of economics from a methodological perspective. We claim that the majority of contributions criticizing modern economics are not based on clear methodological principles and thus many of them are not correct. We show this with respect to such issues as the problem of realisticness of models and their assumptions, the role of mathematics in economics, the way we conceptualize the relation between economics (...) (theory) and economy (empiria), as well as the general problem of comparing theories. In doing so we use the research apparatus taken form the philosophy of science and also we benefit a lot from recent developments in the philosophy of economics. Finally, we show one of the paradoxes of that debate, namely that many critics of economics accuse economists of using the wrong language (mathematics) while they do not use proper language themselves while criticizing economics, namely the apparatus taken from the philosophy of science. (shrink)

Arnošt Kolman (1892–1979) was a Czech mathematician, philosopher and Communist official. In this paper, we would like to look at Kolman’s arguments against logical positivism which revolve around the notion of the fetishization of mathematics. Kolman derives his notion of fetishism from Marx’s conception of commodity fetishism. Kolman is aiming to show the fact that an entity (system, structure, logical construction) acquires besides its real existence another formal existence. Fetishism means the fantastic detachment of the physical characteristics of real things (...) or phenomena from these things. We identify Kolman’s two main arguments against logical positivism. In the first argument, Kolman applied Lenin’s arguments against Mach’s empiricism-criticism onto Russell’s neutral monism, i.e. mathematical fetishism is internally related to political conservativism. Kolman’s second main argument is that logical and mathematical fetishes are epistemologically deprived of any historical and dynamic dimension. In the final parts of our paper we place Kolman’s thinking into the context of his time, and furthermore we identify some tenets of mathematical fetishism appearing in Alain Badiou’s mathematical ontology today. (shrink)

This essay is my review of economist Mark Skousen’s book, The Big Three in Economics. In it, he discusses the economic work of Adam Smith, Karl Marx, and John Maynard Keynes. He gives even-handed treatments of the major contributions of each, for example, Smith’s reputation refutation of mercantilist policies and Smith’s crucial insight into the role that division of labor plays in economic growth. My only complaint is that Skousen doesn’t adequately explain his choice of Marx as a great (...) economist. What enduring contributions did he make to the field? Why name him rather than (say) David Ricardo? (shrink)

This dissertation undertakes a philosophical analysis of “natural capital” and argues that this concept has prompted economists to view Nature in a radically novel manner. Formerly, economists referred to Nature and natural products as a collection of inert materials to be drawn upon in isolation and then rearranged by human agents to produce commodities. More recently, nature is depicted as a collection of active, modifiable, and economically valuable processes, often construed as ecosystems that produce marketable goods and services gratis. Nature (...) is depicted as consisting of various unproduced mechanisms or “natural machines” that are first discovered and then channeled so as to serve human ends. In short, nature as an ideal is a kind of garden that is characterized by natural objects purposefully arranged by intentional human agents. This dissertation first lays out working definitions of the key terms, such as capital and Nature, and then traces the historical roots of natural capital in the writings of eminent classical political economists, such as Adam Smith, John Stuart Mill, and Karl Marx. I then examine the question of substitutes for “critical natural capital”, and argue that the preservation paradox is warranted: no one can restore or preserve a part of Nature without turning it into an artifact. Following the recent work of Debra Satz and Michael Sandel, I finish my dissertation by situating the question of natural capital in the broader context of whether some goods should not be for sale, particularly those I define as Basic Ecological Goods. (shrink)

The aim of this research was to x-ray some causes of poor performance of pupils in primary school mathematics. Specifically, the study examined the use of instructional materials and pupils’ academic performance in mathematics; parents’ socio-economic background and pupils’ academic performance in mathematics; compared the performance of private and public primary school pupils in mathematics; examined ways in which teachers contribute to pupils’ poor performance in mathematics. The study employed a correlational and quasi- experimental research designs. A simple random sampling (...) technique was used to select a sample of 270 pupils and 45 teachers drawn from nine primary schools in Akamkpa local government area of Cross River State. A questionnaire and a mathematics achievement test (MAT) were instruments used for data collection. The collected data was analysed using a simple percentage (%) and arithmetic mean (X). The findings of the study revealed that the use of instructional materials adequately led to pupils’ poor performance in mathematics; parents’ socio-economic status contributed to the pupils’ performance in mathematics; pupils in private primary school perform better than their colleagues in public schools in mathematics; and teachers contribute to the poor performance of pupils in mathematics. Based on this results, conclusions and recommendations were made. (shrink)

Departing from the conventional readings of Karl Marx’s Capital and other of his works, by way of François Laruelle’s “radicalization of concepts,” Katerina Kolozova identifies a theoretical kernel in Marx’s thought whose critical and interpretative force can be employed without reference to its subsequent interpretations in the philosophical mainstream. The latter entails a process of abstracting a philosophical legacy — or rather, of putting it in brackets — and then codifying a history of a learned interpretation established in supposed fidelity (...) to the theoretical project of a “master.” Interpreting the master implies a mastery of doctrinal tools, which results in establishing a catechism of the Logos of the Master. And this catechism interferes, Kolozova argues, with more direct encounters with Marx’s writings. As we know, Marx’s rigorously descriptive language unravels the radical core of capitalist economic processes and, through that unraveling, also reveals capitalism’s necessary exploitation and subjugation of human labor. Toward a Radical Metaphysics of Socialism attempts to recuperate and emancipate the notion of metaphysics in this scenario by virtue of radicalizing thought’s encounter with the Real. Kolozova argues that this metaphysical drama is at the origin of the social and economic injustices of contemporary global economic-political realities, and she illustrates this state of affairs in discussions of the problem of wage labor, automated speculation as the core of late capitalism, the post-2008 financial crisis, the status of technology in late capitalism, sexual difference and gender, and the human and non-human body’s subjugation capitalist automation. (shrink)

Alongside the aspects of interest in the history of ideas in general, this text is of great interest to the economist and the philosopher of economics. The parts on Smith and Marx are a demonstration of how it is possible to make a history of scientific thought that explains the incongruities of the history of thought in front of which Schumpeter stops: these incongruities cease to be mysterious, and indeed they acquire full meaning if we accept the idea of (...) considering in scientific texts not only what is said explicitly, i.e. the analytical instruments, but also the unsaid, i.e. the unspoken assumptions, traditions and ideology. (shrink)

In the first part of this investigation we highlight two, seemingly irreconcilable, beliefs that suggest an impending crisis in the teaching, research, and practice of—primarily state-supported—mathematics: (a) the belief, with increasing, essentially faith-based, conviction and authority amongst academics that first-order Set Theory can be treated as the lingua franca of mathematics, since its theorems—even if unfalsifiable—can be treated as ‘knowledge’ because they are finite proof sequences which are entailed finitarily by self-evidently Justified True Beliefs; and (b) the slowly emerging, but (...) powerfully rooted in economic imperatives, belief that only those Justified True Beliefs can be treated as ‘knowledge’ which are, further, categorically communicable as Factually Grounded Beliefs—hence as comprehensible pre-formal ‘mathematical truths’—by any intelligence that lays claims to a mathematical lingua franca. We argue that this seeming irreconcilability merely reflects a widening chasm between an increasing under-estimation of the value to society of ‘semantic arithmetical truth’, and an increasing over-estimation of the value to society of ‘syntactic set-theoretical provability’; a chasm which must be narrowed and bridged explicitly. We thus proffer a Complementarity Thesis which seeks to recognize that mathematical ‘provability’ and mathematical ‘truth’ need to be interdependent and complementary, ‘evidence-based’, assignments-by-convention to the formulas of a formal mathematical language; where (a) the goal of mathematical ‘proofs’ may be viewed as seeking to ensure that any mathematical language intended to formally represent our pre-formal conceptual metaphors and their inter-relatedness is unambiguous, and free from contradiction; whilst (b) the goal of mathematical ‘truths’ must be viewed as seeking to ensure that any such representation does, indeed, uniquely identify and adequately represent such metaphors and their inter-relatedness. Our thesis is that, by universally ignoring the need to introduce goal (b) in our curriculum, the teaching of, and research in, mathematics at the post-graduate level cannnot justify its value to society beyond the mere intellectual stimulation of individual minds. In the second part we appeal to some recent—and hitherto unsuspected—unarguably constructive Tarskian interpretations, of the first-order Peano Arithmetic PA, which establish PA as both finitarily consistent, and categorical. Since we also show that the second order subsystem ACA0 of Peano Arithmetic and PA cannot both be assumed provably consistent, we conclude that there can be no mathematical, or meta-mathematical, proof of consistency for Set Theory. Hence the theorems of any Set Theory are not sufficient for distinguishing between (i) what we can believe to be a ‘mathematical truth’; (ii) what we can evidence as a ‘mathematical truth’; and (iii) what we ought not to believe is a ‘mathematical truth’; whilst the theorems of the first-order Peano Arithmetic PA are sufficient for distinguishing between (i), (ii) and (iii). We conclude from this that the holy grail of mathematics ought to be ‘arithmetical truth’, not ‘set-theoretical proof’. (shrink)

In computational complexity theory, decision problems are divided into complexity classes based on the amount of computational resources it takes for algorithms to solve them. In theoretical computer science, it is commonly accepted that only functions for solving problems in the complexity class P, solvable by a deterministic Turing machine in polynomial time, are considered to be tractable. In cognitive science and philosophy, this tractability result has been used to argue that only functions in P can feasibly work as computational (...) models of human cognitive capacities. One interesting area of computational complexity theory is descriptive complexity, which connects the expressive strength of systems of logic with the computational complexity classes. In descriptive complexity theory, it is established that only first-order (classical) systems are connected to P, or one of its subclasses. Consequently, second-order systems of logic are considered to be computationally intractable, and may therefore seem to be unfit to model human cognitive capacities. This would be problematic when we think of the role of logic as the foundations of mathematics. In order to express many important mathematical concepts and systematically prove theorems involving them, we need to have a system of logic stronger than classical first-order logic. But if such a system is considered to be intractable, it means that the logical foundation of mathematics can be prohibitively complex for human cognition. In this paper I will argue, however, that this problem is the result of an unjustified direct use of computational complexity classes in cognitive modelling. Placing my account in the recent literature on the topic, I argue that the problem can be solved by considering computational complexity for humanly relevant problem solving algorithms and input sizes. (shrink)

The paper discusses the possibility of constructing economic models using the methodology of model construction in classical mechanics. At the same time, unlike the "econophysical" approach, the properties of economic models are derived without involvement of any equivalent physical properties, but with account of the types of symmetry existing in the economic system. It has been shown that at this approach practically all known mechanical variables have their "economic twins". The variational principle is formulated on the basis of formal mathematical (...) construction without involving the subjective factor common to the majority of models in economics. The dynamics of interaction of two companies has been studies in details, on the basis of which we can proceed to modeling of more complex and realistic economic systems. Prediction of the possibility of constructing economic theory on the basis of primary principles analogously to physics has been made. (shrink)

We review the recently proposed universal concept of dynamic complexity and its new mathematics based on the unreduced interaction problem solution. We then consider its progress-bringing applications at various levels of complex world dynamics, including complex-dynamical nanometal physics and living condensed matter, unreduced nanobiosystem dynamics and the integral medicine concept, causally complete management of complex economical and social dynamics, and the ensuing concept of truly sustainable world governance.

This chapter does not presume to outline a new economic theory, nor a novel perspective on Jewish approaches to economy. Rather, it suggests the concept of pragmatic interestedness (PI) as means for thinking on the search for conscious or moral forms of capitalism. In short, pragmatic interestedness means that having interests is basic to human nature, and that interestedness is or can be non-egoistic and pro-social. This chapter proposes that PI, which has a significant role in normative Jewish tradition, can (...) contribute to the articulation of conscious capitalism. The chapter first defines what pragmatic interestedness is, and its opposite, namely disinterestedness (DI), which demands total impartiality. The second section considers the influential Christian concept of Agape or universal and egalitarian love, which is arguably at tension with eros and particular commitments (and with PI in this regard). It is argued that prominent modern philosophies secularize the Agape, especially Karl Marx’s Communism and Peter Singer’s Sentientism, in a way that marginalizes PI. The third section explores the appearance of pragmatic interestedness within rabbinic Jewish tradition, by (i) presenting the complicated duality of the concept of interest, (ii) emphasizing the recognition of human needs and interests in Judaism and (iii) highlighting Jewish sensitivity to the differences between various spheres of human commitment, and (iv) the role of market and economic considerations in Jewish tradition. The fourth section reflects more broadly on how PI may contribute to the conception of conscious or humane capitalism. (shrink)

The critique of philosophical foundations of neoclassical economics is significant, because of its hegemony on economic education and research programs in Iran and worldwide academies. Due to an epistemological fallacy, methodological individualism plays a prominent role in the philosophy of economic; since the ontological aspects of economy are reduced to methodological considerations. Accordingly, critique of methodological individualism is regarded as the main entry for philosophical analysis of neoclassical economics. This article aims to analyze and appraise the methodological individualism (...) from critical realism’s point of view. Critical realism is taken as a stand for criticizing methodological individualism, because critical realism and neoclassical economics as a positive approach to economics, both share a realistic worldview. The critical realism’ critique of methodological individualism is bases on analyzing the concepts of formalism, syllogism, social atomism, isolation and reduction. From critical realism’ point of view because of unrealistic postulations of methodological individualism, neoclassical economics is turned to an abstract and deductive science such as mathematics with a low potentiality of explanation. (shrink)