Quarterly Journal of Austrian Economics
Operators are not Parameters, the Dimensions of Operators and Variables Must be Invariant, and Indices may not be Dimensioned: Rejoinder to Professors Folsom and Gonzalez
Volume 11, No. 2 (2008)
What is certain is that mathematics cannot possibly be a valid means (to advances in economic understanding) unless and until it is used properly. That means that dimensions must be used consistently and correctly. Barnett (Barnett, Quart J Austrian Econ, pp. 27–46, 2003) is about problems with the use of mathematics in economics involving the failure to use dimensions/units consistently and correctly. Professor Emeritus Folsom and Professor Gonzalez (Folsom and Gonzalez, Quart J Austrian Econ, pp. 45–65, 2005), hereinafter F&G, say, essentially, that what is correct therein is not new and that what is new is not correct. Additionally, they imply, by raising them, that I did not address issues that I should have, e.g., how to introduce dimensions into introductory economics and problems with the Cobb-Douglas (CD) function unrelated to dimensions. Herein, because of space limitations, I respond only to some of their criticisms. Responses to others are posted on the Ludwig von Mises Institute Working Papers site.
Cite This Article
Barnett, William II. "Operators are not Parameters, the Dimensions of Operators and Variables Must be Invariant, and Indices may not be Dimensioned: Rejoinder to Professors Folsom and Gonzalez." The Quarterly Journal of Austrian Economics 11, No. 2 (2008): 132–143.