Financial and Insurance Mathematics

Mathematical development in England was at a low ebb in the early decades of the nineteenth century, with Cambridge stagnating in the shadow of Newton, who had produced his mathematics nearly a century and a half earlier. This dead hand of tradition, which stifled much initiative and originality, was in sharp contrast to the situation in France.

New Deal liberalism broke with progressivism in many if not most respects. Progressives wanted technocratic economic planning. By the 1940s, New Dealers dropped planning for Keynesianism. Most progressives were nativists who supported immigration restriction on ethnic or cultural grounds. New Deal liberals celebrated the melting pot and liberalized American immigration laws in the 1960s. Woodrow Wilson resegegrated Washington. Lyndon B. Johnson signed the Civil Rights Act and the Voting Rights Act. Franklin D. Roosevelt created Social Security and Johnson created Medicare. Wilson opposed national health insurance.

The science of mathematics presents the most brilliant example of how pure reason may successfully enlarge its domain without the aid of experience.