“It’s true that my initial training was in mathematics. However, almost by accident, I happened to take a course from Kenneth Arrow on “Information Economics,” which was so inspiring that I decided to change direction. It seemed to me that economics combined the best of both worlds: the rigor of mathematics with the immediate relevance of a social science. As for how much math I would recommend, I’d say that basic analysis, including measure theory, is certainly very useful. Also, linear algebra and stochastic processes always helps. But beyond that, I don’t think a huge mathematical investment is necessary to do economic theory unless you are planning to work in an extremely technical area.”

— Eric Maskin

" Interview with Eric S. Maskin: Questions by TSE students http://www.tseconomist.com/all-publications/interview-with-nobel-prize-winner-eric-maskin" at tseconomist.com, 04/07/2013; In answer to the question of why he decided to become an economist.

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American Nobel laureate in economics 1950

Kenneth E. Boulding (1910–1993) British-American economist

Attributed to Kenneth Boulding in: Peter J. Dougherty (2002) Who's afraid of Adam Smith?: how the market got its soul. p. 110
1990s and attributed

“Early in 1954 I was appointed Lecturer in Economics at the University of Queensland in Brisbane. Then, in 1956, I was awarded a Rockefeller Fellowship, enabling me and Anne to spend two years at Stanford University, where I got a Ph. D. in economics, whereas Anne got an M. A. in psychology. I had the good fortune of having Ken Arrow as advisor and as dissertation supervisor. I benefitted very much from discussing many finer points of economic theory with him. But I also benefitted substantially by following his advice to spend a sizable part of my Stanford time studying mathematics and statistics. These studies proved very useful in my later work in game theory.”

John Harsanyi (1920–2000) hungarian economist

"John C. Harsanyi - Biographical," 1994

“We have defined the main task of economic analysis as the explanation of the magnitudes of economic quantities. The student will find also that the main part of this, as of most other works on the subject, is concerned with the theory of the determination of prices, wages, interest rates, incomes, and the like. He may well inquire, therefore, in the midst of so much mathematics, whether the first task of economics is not the investigation of wealth, or welfare. Some economists have endeavored to restrict the boundaries of the science to the investigation of those quantities which are numerically measurable. Well-being, under such a restriction, would not be part of economics at all.”

Kenneth E. Boulding (1910–1993) British-American economist

Source: 1940s, Economic Analysis, 1941, p. 7-8

“The university immediately published my pamphlet, and it was sent to ﬁfty People’s Commissariats. It was distributed only in the Soviet Union, since in the days just before the start of the World War it came out in an edition of one thousand copies in all.
Soviet Union, since in the days just before the start of the World War it came out in an edition of one thousand copies in all. The number of responses was not very large. There was quite an interesting reference from the People’s Commissariat of Transportation in which some optimization problems directed at decreasing the mileage of wagons was considered, and a good review of the pamphlet appeared in the journal "The Timber Industry."
At the beginning of 1940 I published a purely mathematical version of this work in Doklady Akad. Nauk [76], expressed in terms of functional analysis and algebra. However, I did not even put in it a reference to my published pamphlet—taking into account the circumstances I did not want my practical work to be used outside the country
In the spring of 1939 I gave some more reports—at the Polytechnic Institute and the House of Scientists, but several times met with the objection that the work used mathematical methods, and in the West the mathematical school in economics was an anti-Marxist school and mathematics in economics was a means for apologists of capitalism. This forced me when writing a pamphlet to avoid the term "economic" as much as possible and talk about the organization and planning of production; the role and meaning of the Lagrange multipliers had to be given somewhere in the outskirts of the second appendix and in the semi Aesopian language.”

Leonid Kantorovich (1912–1986) Russian mathematician

L.V. Kantorovich (1996) Descriptive Theory of Sets and Functions. p. 41; As cited in: K. Aardal, ‎George L. Nemhauser, ‎R. Weismantel (2005) Handbooks in Operations Research and Management Science, p. 19-20

“I went to Cambridge to do higher mathematics, that was my first goal and appearing in the university exams in mathematics. You are given a menu of various branches of mathematics, pure as well as applied. So I found that applied aspects, especially application to astronomy were very interesting. And the speakers on both courses, that is the lecturers were also very good. At that time, I also read a book by Fred Hoyle called ‘Frontiers of Astronomy’, which gave a very readable account for a layman for what was happening in astronomy. So, all these factors made me go into the research field of astronomy. Because one is required to choose which branch of mathematics one takes as research field. In Cambridge, astronomy is treated as a branch of mathematics. So I choose that.”

Jayant Narlikar (1938) Indian physicist

An Exclusive Interview with Prof. Jayant Vishnu Narlikar

“I learned later that economic reasoning was not just mathematics and could be applied to a wide variety of social problems. Now, I think that no forms of social interaction—including religion, love, crime, and fertility choice—are immune from the power of economic reasoning. Hence, even widely held beliefs—for example, that beauty is an illegitimate credential of a worker or that democracy is important for economic growth—are not sacred truths and are subject to analysis.”

Robert Barro (1944) American classical macroeconomist

Source: Nothing Is Sacred (2002), p. xiii

“Econometrics is the name for a field of science in which mathematical-economic and mathematical-statistical research are applied in combination. Econometrics, therefore, forms a borderland between two branches of science, with the advantages and disadvantages thereof; advantages, because new combinations are introduced which often open up new perspectives; disadvantages, because the work in this field requires skill in two domains, which either takes up too much time or leads to insufficient training of its students in one of the two respects.”

Jan Tinbergen (1903–1994) Dutch economist

Source: Econometrics, 1951, p. 3; Cited in: Econometrica: journal of the Econometric Society. (1953) p. 36

“Well, I certainly was not going to study physics, and I knew I was not going to study biology, but I could have become a sociologist or an anthropologist. However, I found sociology a little soft. I think that somewhere in my mind, I probably already had the notion – which turned out to be right – that if I was going to be a social scientist of some kind, I would like a rigorous social science. The analytical aspect of economics already appealed to me. That must have been so. It was not really a matter of chance. But if my wife had said ‘oh, no, economics was terribly boring’, I would probably have found something else to do.”

Robert Solow (1924) American economist

in Karen Ilse Horn (ed.) Roads to Wisdom, Conversations With Ten Nobel Laureates in Economics (2009)

“I had become interested in economics, an interest that was transformed into a lifetime dedication when I met with the mathematical theory of general economic equilibrium.”

Gérard Debreu (1921–2004) French economist and mathematician

" Gerard Debreu - Biographical http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/1983/debreu-bio.html". in: Les Prix Nobel. The Nobel Prizes 1983, Editor Wilhelm Odelberg, [Nobel Foundation], Stockholm, 1984; Republished at Nobelprize.org. Nobel Media AB 2014.

“The usefulness of observation and measurement in testing economic theories arises because the theorems of economics are supposed to relate to the actual world… Any economic theorem rigorously deduced from given postulates may be regarded as a hypothesis about the actual world which xperience may show to be false.”

Richard Stone (1913–1991) British economist, Nobel Memorial Prize winner

Source: The Role of Measurement in Economics. 1951, p. 12

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