making the move from physics to finance

Julio Huato juliohuato at hotmail.com
Tue Sep 16 21:11:47 MDT 2003


Sabri wrote:

>Debreu and his fellows were part of a project, which started probably with
>the works of John Von Neumann: to show that capitalism, or market economy
>in academic jargon, is superior to all other
alternatives.

Absolutely.  The Cowles project was ideological from the get go.

>As far as I can see, Debreu did not start with his axioms and ended up with
>the above result, which he did not anticipate before writing down his
>assumptions. It is the other way around: he had the result in mind before
>he wrote down his assumptions and built his theory in such a way to obtain
>the desired result.

I agree.  It's like reverse engineering.

>When you have the time, you may want to take a look at Philip Mirowski's
>books on the above mentioned project: 1) Machine Dreams and 2) More Heat
>than Light.

Thank you for the references.

Julio

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