I have no great faith in political arithmetick
— Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, Book 4, Chapter 5. Today’s Analect was suggested by Tom Farndon (Core ’10, CAS ’12). Tom writes:
For those looking for a deeper explanation as to the processes behind quantitative reasoning in politics, beyond Smith’s example of the Corn trade, then look into this essay by Robert W. Dimand, on Adam Smith and quantitative political economy.