LET us begin with a question of method -- the
employment in economics of mathematical
techniques. To anyone who has taken in the
Economic Journal over a long period a notable
change will have been apparent. At the end
of last century the Journal did indeed contain
an occasional article in which diagrammatic
and, less frequently, mathematical methods
were employed. Edgeworth's papers were the
most notable of these. But such things were
rarities. In general the articles and memoranda
were written in ordinary language -- ordinary
language, not even the specialist jargon lan-
guage which some people so much enjoy.
Now they are predominantly mathematical in
tone. This is typical. Mathematics have now
an enormously more important place in eco-
nomic discussion than they used to have. Indeed
it is sometimes claimed that nobody can be
a serious economist in these days unless he
is a bit of a mathematician. Moreover, the
mathematics employed are steadily becoming

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