# ECONOMIC DYNAMICS AND THE CALCULUS OF VARIATIONS IN THE INTERWAR PERIOD

@article{Pomini2018ECONOMICDA, title={ECONOMIC DYNAMICS AND THE CALCULUS OF VARIATIONS IN THE INTERWAR PERIOD}, author={Mario Pomini}, journal={Journal of the History of Economic Thought}, year={2018}, volume={40}, pages={57 - 79} }

Analogies with rational mechanics played a pivotal role in the search for formal models in economics. In the period between the two world wars, a small group of mathematical economists tried to extend this view from statics to dynamics. The main result was the extensive application of calculus of variations to obtain a dynamic representation of economic variables. This approach began with the contributions put forward by Griffith C. Evans, a mathematician who, in the first phase of his…

## 5 Citations

Paul Samuelson’s ways to macroeconomic dynamics

- Economics
- 2020

Abstract Samuelson kept optimisation-based problems separated from macroeconomic dynamics in his Foundations, where dynamics was defined in terms of difference and differential equations. Despite…

Paul Samuelson’s Ways to Macroeconomic Dynamics

- EconomicsSSRN Electronic Journal
- 2019

Samuelson kept optimization-based problems separated from macroeconomic dynamics in his Foundations, where dynamics were defined in terms of difference and differential equations. Despite some…

Evans model for dynamic economics revised

- EconomicsAIMS Mathematics
- 2021

This paper argues that any economic phenomena should be observed by two different scales, and any economic laws are scale-dependent. A one-scale law arising in either macroeconomics or microeconomics…

An inquiry into the Ramsey-Hotelling connection

- EconomicsThe European Journal of the History of Economic Thought
- 2019

Abstract Ramsey’s 1928 paper on saving and Hotelling’s 1931 article on exhaustible resources are considered to be two seminal contributions in economic dynamics. They have been associated because of…

List of publications on the economic and social history of Great Britain and Ireland published in 2018

- HistoryThe Economic History Review
- 2019

## References

SHOWING 1-10 OF 79 REFERENCES

Habits and Expectations: Dynamic General Equilibrium in the Italian Paretian School

- Economics
- 2009

Between the two world wars, the theory of general economic equilibrium received notable impetus in Italy from the work of the Paretian School. This consisted of a small, but very active, group of…

A Dynamical Theory of Economics

- EconomicsJournal of Political Economy
- 1927

For many years theoretical economists have recognized the need for a dynamical theory of economics. Even Augustin Cournot, as far back as i838, realized the need for such a treatment, for he wrote:…

HOW INFLUENTIAL WAS MECHANICS IN THE DEVELOPMENT OF NEOCLASSICAL ECONOMICS? A SMALL EXAMPLE OF A LARGE QUESTION

- EconomicsJournal of the History of Economic Thought
- 2010

It is well known that classical mechanics played a significant role in the thought of several major economists in the neoclassical tradition from the 1860s to the 1910s. Less well studied are the…

Mathematical Analysis for Economists

- EconomicsNature
- 1938

THE aim of this book is to provide a course of pure mathematics that will be useful to students of economics. The earlier chapters, which deal with numbers and variables and their representation,…

The Role of Time in Economic Theory

- Economics
- 1934

i. THE r6le of time in economic theory is a subject which in recent years it has become more and more fashionable to discuss. In the last quarter of a century more has been written about Time and its…

A Path Through the Wilderness: Time Discounting in Growth Models

- Economics
- 2016

Although economists have recognized long ago that “time enters into all economic questions”, the ways they treated and modeled time has varied substantially in the last century. While in the 1930s…

Equilibrium Business Cycle Theory in Historical Perspective

- Economics
- 1988

This 1988 book presents a historical investigation of the theoretical development of contemporary Equilibrium Business Cycle Theory (EBCT). The author examines the central features of the EBCT by…

How Economics Became a Mathematical Science

- Economics
- 2002

How Economics Became a Mathematical Science By E. Roy Weintraub. Durham, NC: Duke University Press. 2002. Pp. xiii, 313. $18.95 (paperback). It is a contemporary truism that if you hope to make a…

Mainstream Mathematical Economics in the 20th Century

- Economics
- 2000

Prolegomena: Cournot, Walras, and Edgeworth.- Preliminary.- Cournot's Main Contributions.- Walras' Contributions to General Equilibrium.- Edgeworth's Theory of the Core.- The Founding Years: 1900 -…

Generalized Lagrange problems in the calculus of variations

- Mathematics
- 1928

In the new dynamical theory of economics there arises a very general problem which can be said to be a generalization of the Lagrange problem in the calculus of variations.4 It will not be necessary…