Mathematical Economics

William Stanley Jevons was an English economist and logician. In Brief Account of a General Mathematical Theory of Political Economy, which is essentially a condensed version of his most important piece of work, The Theory of Political Economy, first published in 1850, Javons discusses the marginal utility theory of value, pushing economic thought into the modern era. This piece is a must for both budding young mathematicians and aspiring economists with an interest in the recent history of their fields.

For the past few decades, the financial world has often displayed an unreasonable willingness to believe that "the model is right, the market is wrong," in spite of the fact that these theoretical machinations were largely responsible for the stock market crash of 1987, the LTCM crisis of 1998, the credit crisis of 2008, and many other blow-ups, large and small.