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

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 human
behavior and is a non-static mechanism that cannot be accurately quantified, making it difficult
for economics to conform to the value-free nature of science. This paper discusses several
ideas 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 to
equate economics with other pure sciences.

JEL Classification: A12; B40; B41; B59; C02.