Economic Arithmetic

We take for granted today that the assessments, measurements, and forecasts of economists are crucial to the decision-making of governments and businesses alike. But less than a century ago that wasn’t the case—economists simply didn’t have the necessary information or statistical tools to understand the ever more complicated modern economy. With Political Arithmetic, Nobel Prize–winning economist Robert Fogel and his collaborators tell the story of economist Simon Kuznets, the founding of the National Bureau of Economic Research, and the creation of the concept of GNP, which for the first time enabled us to measure the performance of entire economies. The book weaves together the many strands of political and economic thought and historical pressures that together created the demand for more detailed economic thinking—Progressive-era hopes for activist government, the production demands of World War I, Herbert Hoover’s interest in business cycles as President Harding’s commerce secretary, and the catastrophic economic failures of the Great Depression—and shows how, through trial and error, measurement and analysis, economists such as Kuznets rose to the occasion and in the process built a discipline whose knowledge could be put to practical use in everyday decision-making. The product of a lifetime of studying the workings of economies and skillfully employing the tools of economics, Political Arithmetic is simultaneously a history of a key period of economic thought and a testament to the power of applied ideas.

Economic history is the most quantitative branch of history, reflecting the interests and profiting from the techniques and concepts of economics. This essay, first published in 1977, provides an extensive contribution to quantitative historiography by delivering a critical guide to the sources of the numerical data of the period 1700 to 1850. This title will be of interest to students of history, finance and economics.

This book provides a comprehensive introduction to the mathematical foundations of economics, from basic set theory to fixed point theorems and constrained optimization. Rather than simply offer a collection of problem-solving techniques, the book emphasizes the unifying mathematical principles that underlie economics. Features include an extended presentation of separation theorems and their applications, an account of constraint qualification in constrained optimization, and an introduction to monotone comparative statics. These topics are developed by way of more than 800 exercises. The book is designed to be used as a graduate text, a resource for self-study, and a reference for the professional economist.

This book shows how mathematics is used in developing economic theory and in applied economic analysis. The text gradually develops the mathematical skills needed by students and allows them to progress at their own pace. A wide variety of examples shows how, and why, the application of mathematics has become essential to economists.

The book is the first in the trilogy which will bring you to the fascinating world of numbers and operations with them. Numbers provide information about myriads of things. Together with operations, numbers constitute arithmetic forming in basic intellectual instruments of theoretical and practical activity of people and offering powerful tools for representation, acquisition, transmission, processing, storage, and management of information about the world.The history of numbers and arithmetic is the topic of a variety of books and at the same time, it is extensively presented in many books on the history of mathematics. However, all of them, at best, bring the reader to the end of the 19th century without including the developments in these areas in the 20th century and later. Besides, such books consider and describe only the most popular classes of numbers, such as whole numbers or real numbers. At the same time, a diversity of new classes of numbers and arithmetic were introduced in the 20th century.This book looks into the chronicle of numbers and arithmetic from ancient times all the way to 21st century. It also includes the developments in these areas in the 20th century and later. A unique aspect of this book is its information orientation of the exposition of the history of numbers and arithmetic.

We take for granted today that the assessments, measurements, and forecasts of economists are crucial to the decision-making of governments and businesses alike. But less than a century ago that wasn’t the case—economists simply didn’t have the necessary information or statistical tools to understand the ever more complicated modern economy. With Political Arithmetic, Nobel Prize–winning economist Robert Fogel and his collaborators tell the story of economist Simon Kuznets, the founding of the National Bureau of Economic Research, and the creation of the concept of GNP, which for the first time enabled us to measure the performance of entire economies. The book weaves together the many strands of political and economic thought and historical pressures that together created the demand for more detailed economic thinking—Progressive-era hopes for activist government, the production demands of World War I, Herbert Hoover’s interest in business cycles as President Harding’s commerce secretary, and the catastrophic economic failures of the Great Depression—and shows how, through trial and error, measurement and analysis, economists such as Kuznets rose to the occasion and in the process built a discipline whose knowledge could be put to practical use in everyday decision-making. The product of a lifetime of studying the workings of economies and skillfully employing the tools of economics, Political Arithmetic is simultaneously a history of a key period of economic thought and a testament to the power of applied ideas.

Dean Corbae, Maxwell B.