Beyond Equations:The Challenge of Mathematical Rigor in Economics

The mathematical approach is threatening the progress of economics,as it tends to disregard the complexity of economic behaviour and the unpredictability of human actions.——Friedrich Hayek The reliance on mathematical models in economics has long been debated,with critics arguing that this approach fails to capture the complexity of human behavior and the unpredictability of economic systems.While mathematics provides a structured method for analyzing economic processes,it often simplifies decision-making to a one-dimensional utility function,neglecting social,psychological,and political influences.This paper examines the limitations of classical and neoclassical economic theories that heavily depend on mathematical rigor,highlighting the pitfalls of models like the Rational Agent Model,General Equilibrium Theory,and Expected Utility Theory.Drawing on examples such as the 2008 financial crisis and the Terra/Luna cryptocurrency collapse,the paper demonstrates how over-reliance on equations has led to inaccurate predictions and ineffective policy decisions.It calls for a more interdisciplinary approach that integrates insights from psychology and sociology to address the gaps left by traditional mathematical economics.

Interest and profit

This paper argues that it is important to distinguish between the real rate of interest on money and the profitability of business enterprise. The former is a purely financial or monetary phenomenon （as claimed by Keynes） and the latter is in the nature of a surplus over and above the costs of production, including financing costs. There is an inverse relationship between the real rate of interest on money and the average mark-up or profit share. A synthetic theory of profit illustrates these points.

Modelling of adsorption of textile dyes over multi-walled carbon nanotubes:Equilibrium and kinetic

The paper deals with the application of multiwall carbon nanotubes(CNTs) to the adsorption of dyes from wastewater. Textile dyes are dangerous and diffused pollutant in wastewater, and the paper results confirmed the good adsorption ability of CNTs, with respect to classic active carbon, even for different dye types. The effect of surface treatments of CNTs was primarily investigated, revealing that neither the presence of residual catalyst nor common surface treatment(oxidation) affects the CNT's performances. Therefore less expensive nonpurified CNTs were assessed as good and economically convenient alternative for the process. In order to gain in generality in adsorption kinetic modelling, the parameters of the "best fitting" pseudo-second order model have been correlated to the main process variables(the dye initial concentration and the specific mass of CNTs.) setting-up a predictive kinetic model useful design new application of these materials in currently operating industrial operations for adsorption. In addition, isothermal data were used to screen all the relevant adsorption isotherms models and the Temkin model was confirmed as the more effective to accurately fit equilibrium data for any of the considered different dye types.

Seeking the Theoretical Origins of Supply-side Structural Reform

The theoretical origins of supply theory and supply-side structural reform lie in British and French classical economics, with their longstanding interest in supply, rather than in the later emergence of Jean-Baptiste Say and Say＇s Law, which attempts to deny the possibility of economic crises. Marx deepened supply theory, holding that production （supply） structure and product （income） distribution structure depended on the nature and structure of relations of production. This theory has been especially significant in guiding supply-side structural reform in China. The main reference value of American supply-side economics lies in some of its policy proposals for reforming and managing supply. Supply-side structural reform in China requires the development of a socialist supply theory with Chinese characteristics.

Assessing protein-DNA interactions: Pros and cons of classic and emerging techniques

Investigation of protein-DNA interactions provides important information for understanding gene function and regulation, but identification and validation of specific interactions remain major challenges in the post-genomics era. Therefore, effective and economical methods to assess protein-DNA interactions are highly sought-after by molec- ular biologists.