Problems with Neoclassical Economics

Illustrations of Successful Use of Mathematics in Neoclassical Economics

In the literature of mainstream (read, neoclassical) economics I can think of three examples of successful use of mathematics whose theorems are verified by proper empirical tests. The first is the Slutsky equation that was put forward by the Russian statistician Yevgeny (Eugen) Slutsky, which was translated into Italian and published in the Italian journal Giornaledegli Economisti (Chipman and Lenfant 2002).