Modern Economics Morphing From Philosophy To Applied Math

Modern economics has masqueraded as a “science” for many decades now, but at its heart the discipline of economics is based on words and theories, not numbers. In fact, a strong argument can be made that economics is the study of the intersection of finance and culture rather than “the science that deals with the production, distribution, and consumption of goods and services.” Economics as it is generally understood today began as a branch of philosophy in the 17th and 18th century, with famous political philosophers and theorists such as John Locke and David Hume laying the groundwork that Adam Smith and others would systematize and rigorize into classical economics. However you want to categorize economics as an academic discipline, make no mistake about it, unlike in physics, chemistry or…

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