ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Axiomatic Approach in Economics

Axiomatic Approach in Economics D K Bose THE literature on modern economics has been expanding so fast that one is apt to find it difficult to keep pace with it Added to this is the problem that much of modern thought in economics is expressed in mathematical forms. The gap between economists versed in the language of modern mathematics and others not so equipped has been widening. In such circumstances, the publication of the present book by V C Walsh is most welcome. Walsh sets out to bring to the students of economics the results of advanced treatments in micro- economic theory by contemporary researchers who find in symbolic logic and topological concepts in set theory their means of communication. It is generally accepted that the modern approach of axiomatic method in economics can provide a rigorous basis of analysis. What is less often appreciated is the fact that it may also be easier, compared to the conventional approach, for exposition to students. A perusal of the book by Walsh will dispel doubts of most of the sceptics in this regard.

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