A World Ruled by Number: William Stanley Jevons and the Rise of Mathematical Economics (Princeton Legacy Library)

205 Pages·2016·13.011 MB·English

by  Margaret Schabas

A World Ruled by Number

A World Ruled by Number
WILLIAM STANLEY JEVONS AND
THE RISE OF MATHEMATICAL
ECONOMICS
Margaret Schabas
PRINCETON UNIVERSITY PRESS
PRINCETON, NEW JERSEY
Copyright © 1990 by Princeton University Press
Published by Princeton University Press,
41 William Street, Princeton, New Jersey 08540
In the United Kingdom: Princeton University Press, Oxford
All Rights Reserved
Library of Congress Catahging-in-Publication Data
Schabas, Margaret, 1954-
A world ruled by number : William Stanley Jevons and the rise of
mathematical economics I Margaret Schabas.
p. cm.
Based on the author's thesis (Ph.D.)—University of Toronto, 1983.
Includes bibliographical references.
ISBN 0-691-08543-9 (alk. paper)
1. Jevons, William Stanley, 1835-1882. 2. Economics,
Mathematical. I. Tide.
HB103.J5S33 1990 330.15'7—dc20 89-70245
This book has been composed in Linotron Primer
Princeton University Press books are printed on acid-free paper,
and meet the guidelines for permanence and durability of the
Committee on Production Guidelines for Book Longevity of the
Council on Library Resources
Printed in the United States of America by
Princeton University Press, Princeton, New Jersey
10 9 8 7 6 5 4 3 21
Frontispiece: William Stanley Jevons, aged 22, from a photograph taken in Australia, 6
February 1858
To my parents, Ann and Ezra

Not without reason did Pythagoras represent the world as
ruled by number. Into almost all our acts of thought number
enters, and in proportion as we can define numerically we
enjoy exact and useful knowledge of the Universe.
—Jevons, Principles of Science

Contents
Preface xi
CHAPTER ONE
Mathematical Pursuits 3
CHAPTER TWO
Jevons's Life 12
CHAPTER THREE
The Mathematical Theory of Economics 31
The Theory of Value 34
The Theory of Exchange 39
The Theory of Labor 43
The Theory of Rent and Capital 47
Conclusion 52
CHAPTER FOUR
Logic and Scientific Method 54
Formal Logic 57
Induction 65
Scientific Progress 72
Conclusion 78
CHAPTER FIVE
Markets and Mechanics 80
Theory and Evidence 81
Mechanical Analogies 84
Statics and Dynamics 89
The System Generalized 92
Conclusion 96
CHAPTER SIX
Response to the Theory 98
Cairnes 100
Mill 103
The Economic Historians 110
The Moderates 113
Conclusion 117