Some people have been complaining about the increasing mathematization of econonmics and how it leads to a disconnect of economics with real life (which I suppose is void of mathematics). I would argue that this is actually a good thing, first because it forces you to have rigorous arguments, second because you often need quantitative answers to questions that result in qualitatively ambiguous outcomes, and third because it simply allows us to look at more complex problems. But, has mathematization actually increased?
Miguel Espinosa, Carlos Rondon and Mauricio Romero look at the publications of top economists and look at how many equations or econometric outputs per article they produced. The analysis for the last century shows a gradual increase of mathematization throughout, except for the number of equations which went through a serious recession in the 1980's. And of course, econometrics started only seriously in the 1950's. It also appears that professional success as measured by prestigious prizes is certainly linked to the use of mathematics, but not the econometric kind.
Miguel Espinosa, Carlos Rondon and Mauricio Romero look at the publications of top economists and look at how many equations or econometric outputs per article they produced. The analysis for the last century shows a gradual increase of mathematization throughout, except for the number of equations which went through a serious recession in the 1980's. And of course, econometrics started only seriously in the 1950's. It also appears that professional success as measured by prestigious prizes is certainly linked to the use of mathematics, but not the econometric kind.
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