Pakistan Institute of Development Economics

PDR

THE PAKISTAN DEVELOPMENT REVIEW 

Mathematical Economics by Kelvin Lancaster. Macmillan, New York, 1968.

The burgeoning of abstract economic analysis since about 1950 makes the need for well-conceived consolidations and codifications at the textbook level peculiarly important. The task is a challenging one, demanding the attainment of a compromise between the “mathematics for economists” catalogues of techniques and the highly specialized and formalized “theorem-proof” sequences of the high-theory journals. It requires that skilful blend of the rigorous and the heuristic, the multidimensional and the diagrammatic, the logical and the intuitive, found in the teacher-born. Lancaster has succeeded admirably in finding the optimal mixture.

Robert E. Kuenne

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