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Analytical Economics: Issues and Problems

Analytical Economics: Issues and Problems 1967] Reviews 125 21. Analytical Economics: Issues and Problems. By Nicholas Georgescu-Roegen. Cambridge, Mass., Harvard University Press; London, Oxford University Press, 1966. xvi, 434 p. 9". 104s. At a time when a paper, almost any paper, by Professor Georgescu-Roegen has come to be regarded as something of an event in the world of academic economists, the pro­ duction of a book containing 12 of his more influential papers will not pass for less than an occasion. To add to the occasion, moreover, these papers are introduced by a five­ chapter essay, "Some Orientation Issues in Economics", which apart from its intrinsic interest provides clues to his repeated concern in this volume with issues that might otherwise seem secondary. Part II on "Choice: Utility and Expectation", containing six papers published between 1936 and 1958, is illustrative. In all of them, but especially in the first, "The Pure Theory of Consumer's Behaviour" (1936), and the fifth, "Threshold in Choice and the Theory of Demand" (1958), Georgescu-Roegen is much taken with the mathematical postulates necessary for integrability. The ordinary economist is generally content to assume transi­ tivity ab initio and to proceed from there. The mathematical mind, on the other hand, when http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of the Royal Statistical Society Series A (Statistics in Society) Oxford University Press

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Copyright
© 1967 The Authors
ISSN
0964-1998
eISSN
1467-985X
DOI
10.2307/2344062
Publisher site
See Article on Publisher Site

Abstract

1967] Reviews 125 21. Analytical Economics: Issues and Problems. By Nicholas Georgescu-Roegen. Cambridge, Mass., Harvard University Press; London, Oxford University Press, 1966. xvi, 434 p. 9". 104s. At a time when a paper, almost any paper, by Professor Georgescu-Roegen has come to be regarded as something of an event in the world of academic economists, the pro­ duction of a book containing 12 of his more influential papers will not pass for less than an occasion. To add to the occasion, moreover, these papers are introduced by a five­ chapter essay, "Some Orientation Issues in Economics", which apart from its intrinsic interest provides clues to his repeated concern in this volume with issues that might otherwise seem secondary. Part II on "Choice: Utility and Expectation", containing six papers published between 1936 and 1958, is illustrative. In all of them, but especially in the first, "The Pure Theory of Consumer's Behaviour" (1936), and the fifth, "Threshold in Choice and the Theory of Demand" (1958), Georgescu-Roegen is much taken with the mathematical postulates necessary for integrability. The ordinary economist is generally content to assume transi­ tivity ab initio and to proceed from there. The mathematical mind, on the other hand, when

Journal

Journal of the Royal Statistical Society Series A (Statistics in Society)Oxford University Press

Published: Dec 5, 2018

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