Formalism in Economics: Perspectives from Philosophy of Mathematics
Abstract
Abstract This paper engages with recent work on formalization in economics to develop a new perspective on mathematization. Boylan and O’Gorman draw on foundations of mathematics to argue that classical mathematics is inappropriate for economics; intuitionistic foundations and constructive mathematics should be used instead. The use of real analysis would be blocked and equilibrium results undermined. I argue that their line of thought faces several challenges; however, I then draw on their analyses and the philosophy of applied mathematics to propose a novel approach in which questions about mathematization are properly understood as questions about the contextual aptness of relevant idealizations.
Fields of Study & Subjects
History and Theory of Mathematics
Philosophy and History of Science
Philosophy
Science
and History
Publication details
- Journal / source
- Economics and Philosophy
- Volume
- 42
- Issue
- 3
- Pages
- 695–713
- Publication date
- 16 February 2026
- Language
- EN