Doug asks-- > When did economists start (over)using the word "story"? Anyone know the > pedigree of turn of phrase? > I don't know about origins, but Akerlof's book, AN ECONOMIC THEORIST'S BOOK OF TALES (1984), is indicative of the branch that (over-)uses the phrase. Extending something Roger just wrote on this subject, I note that a distinction between the use of formalism in political economy and its use in economic theory is that in the latter the real-world application--the "story"--is essentially subordinate to the primary purpose of the exercise, which is extending the mathematical reach of mainstream theory. In political economy, the "play's the thing": the primary purpose of formal analysis is to capture and relate key features of a particular economic system. Gil
