Can We Use Math to Design a Brighter Future?

Abstract

Did you know that math can be used to help improve society? Well, believe it or not, it does so on a daily basis. Math not only helps us develop new technologies and engineering techniques, but also enables us to design modifications of our society that achieve desirable social goals—goals like reducing pollution and allocating resources to the people who value them the most. In this article, I will tell you about a branch of economics called mechanism design which helps economists do exactly that. Using mechanism design, we can reach important social goals that could not be attained without the modifications it points to. Keep reading to join me on a journey describing an economic theory that can help design a brighter future for us all.