Abstract: There can be no doubt but that Sir Richard Stone is a true economic scientist, one of those who contributed importantly to the transition of economics from being an art to being a science. Significantly, he emphasized and practiced “measurement with theory,” not “measurement without theory” nor “theory without measurement.” In doing so, he set an excellent example for many others who followed his lead. His careful and thorough measurement procedures and use of sophisticatedly simple theoretical economic models and impressive statistical techniques in analyses of important problems brought him worldwide recognition, as recognized by many, including Angus Deaton in the following words:
Publication Year: 2004
Publication Date: 2004-02-19
Language: en
Type: book-chapter
Indexed In: ['crossref']
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Cited By Count: 2
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