The Development of Insurance Mathematics: Two Lectures Delivered Before the Students in the School of Commerce of the University of Wisconsin, the Fall Term of 1901 (Classic Reprint) - Hardcover

Dawson, Miles Menander

9780267425846: The Development of Insurance Mathematics: Two Lectures Delivered Before the Students in the School of Commerce of the University of Wisconsin, the Fall Term of 1901 (Classic Reprint)

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ISBN 10: 0267425848 ISBN 13: 9780267425846

Publisher: Forgotten Books, 2018

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Excerpt from The Development of Insurance Mathematics: Two Lectures Delivered Before the Students in the School of Commerce of the University of Wisconsin, the Fall Term of 1901

It is most interesting to study the growth and evolution of any branch of science and to observe how it Sprang from some other branch of science, and what things had to be known as a prepara tion for the dawning of the new learning. It is a far cry, perhaps, from actuarial science to the decimal system of notation, and yet, had it not been for the invention of that system it may well be doubted whether arithmetic would ever have reached the stage which renders mathematical problems that would otherwise be difficult of operation, simple and easy. Addition, which is now so simple, albeit so laborious a matter, was exceedingly difficult under the old systems of notation. A student may readily form some conception of the difficulties if he will range a number of Roman numerals side by side, or one under the other - one ar rangement is about as convenient as the other - and proceed to add. Multiplication, which is continued addition, was even harder. It follows that Operations which must be performed upon a very large scale, in order that actuaries may do their tasks, were then almost impossible upon anything but a limited scale.

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