Early Mathematical Economics

Convinced that Ricardian concept of political economy, dominant among his contempories, was based on unscientific doctrines and dubious moral conclusions, William Whewell and his followers sought to transform scientific knowledge and to reform British education by applying mathematics to economics. James P. Henderson's comprehensive study argues that Whewell developed a strategy to challenge the growing dominance of the Ricardian paradigm by highlighting the errors in its deductive reasoning. Whewell's views on scientific methodology, moral philosophy, and educational doctrine influenced several generations of prominent mathematical economists, including Edward Rogers, Col. T. Perronet Thompson, John Edward Tozer, Sir John William Lubbock, and Dionysius Lardner. Along with Richard Jones, Whewell was instrumental in developing an inductive political economy based upon careful historical and statistical research. This study of Whewell's contributions to mathematical economics is important reading for students and scholars of economics and political economy.