Abstract

When reassessing the role of Debreu’s axiomatic method ineconomics, one has to explain both its success and unpopularity; onehas to explain the “bright shadow” Debreu cast on the discipline:sheltering, threatening, and difficult to pin down. Debreu himself didnot expect to have such an influence. Before he received the Bank ofSweden Prize in 1983 he had never openly engaged with themethodology or politics of mathematical economics. When in severalspeeches he later rigorously distinguished mathematical form fromeconomic content and claimed this as the virtue of mathematicaleconomics, he did both: he defended mathematical reasoning againstthe theoretical innovations since the 1970s and expressed remorse forhaving promised too much because it cannot support claims abouteconomic content. The analysis of this twofold role of Debreu’saxiomatic method raises issues of the social and political responsibilityof economists over and above standard epistemic issues