Exploring the Origin of Mathematical Economics
Abstract
The existing studies on the origin and history of mathematical economics are euro-centric and
cover only the past two centuries. It is intended to show that 1) mathematical economics has an
ancient origin. Kautilya wrote The Arthashastra during the fourth century BCE and used discrete
marginal analysis and combinatory rules to sharpen economic analysis. 2) It is indicated that in
the West, image of mathematics has changed directly and that of economics indirectly as the theology/philosophy
of the church changed. 3) It is claimed that in India the developments in both
economics and mathematics have always been simple, secular and user-friendly to solve problems
related to agriculture, construction, navigation and trade.
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