Mathematics on Economics: Medieval Era Thesis

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"Theorists of capitalism" such as Werner Sombart state unequivocally that the "beginning and end" of capitalist activities is "a sum of money," which must be calculated and trace the renewed interest in higher mathematics to mercantile capitalism and the need for an easily convertible medium of exchange (Sachs 2000).

However, exposure to the Arab world through the Crusades was also a factor in a renewed interest in mathematics independent of capitalism -- interest in rationalism as a concept also spawned theorizing later useful to economists.

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Fibonacci (1175-1250 AD) "wrote Liber Abaci, a free rendition of Greek and Arabic works in Latin which taught the Hindu methods of calculation with integers and fractions, square roots and cube roots, this book made available the masses the number systems heretofore sequestered in monasteries throughout Europe" (Dickinson 1996).

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