Title
Mechanics meets economics, once again : the "rational economics" project of the Guillaume brothers Mechanics meets economics, once again : the "rational economics" project of the Guillaume brothers
Author
Faculty/Department
Faculty of Applied Economics
Publication type
article
Publication
Subject
Economics
Source (journal)
Oeconomia
Volume/pages
5(2015) :2 , p. 125-156
ISSN
2269-8450
Carrier
E
Target language
English (eng)
Full text (Publishers DOI)
Affiliation
University of Antwerp
Abstract
In the 1930s the Swiss brothers Édouard and Georges Guillaume launched an ambitious attempt to found a science of rational economics by analogy with the science of rational mechanics. Their models were intensively discussed by the X-Crise group in Paris, and exerted an influence on the early French contributions to mathematical economics and econometrics. In addition, the Guillaume brothers (hereafter the Guillaumes) created their own research institute in Paris, which applied their models to real world issues and offered its services to the private sector. Later they became involved in attempts to conceive electrical machines which represented the working of the economic system. This paper explores the specific blend of physics and economics proposed by the Guillaumes, and traces the connections between their theoretical work and its more practical manifestations. It examines the background of the Guillaumes, analyses their theoretical contributions, and presents a survey of the activities of their research centre.
Handle