The first attempt at quantitative economic analysis is attributed to Gregory King,
who was the first to fit a linear function of changes in corn prices on deficiencies in the
corn harvest, as reported in Charles Davenant (1698). One important consideration in the
empirical work of King and others in this early period seems to have been the discovery
of ‘laws’ in economics, very much like those in physics and other natural sciences.
This quest for economic laws was, and to a lesser extent still is, rooted in the desire to
give economics the status that Newton had achieved for physics. This was in turn reflectedin the conscious adoption of the method of the physical sciences as the dominant mode of
empirical enquiry in economics. The Newtonian revolution in physics, and the philosophy
of ‘physical determinism’ that came to be generally accepted in its aftermath, had farreaching
consequences for the method as well as the objectives of research in economics.
The uncertain nature of economic relations only began to be fully appreciated with the
birth of modern statistics in the late 19th century and as more statistical observations
on economic variables started to become available.
The first attempt at quantitative economic analysis is attributed to Gregory King,
who was the first to fit a linear function of changes in corn prices on deficiencies in the
corn harvest, as reported in Charles Davenant (1698). One important consideration in the
empirical work of King and others in this early period seems to have been the discovery
of ‘laws’ in economics, very much like those in physics and other natural sciences.
This quest for economic laws was, and to a lesser extent still is, rooted in the desire to
give economics the status that Newton had achieved for physics. This was in turn reflectedin the conscious adoption of the method of the physical sciences as the dominant mode of
empirical enquiry in economics. The Newtonian revolution in physics, and the philosophy
of ‘physical determinism’ that came to be generally accepted in its aftermath, had farreaching
consequences for the method as well as the objectives of research in economics.
The uncertain nature of economic relations only began to be fully appreciated with the
birth of modern statistics in the late 19th century and as more statistical observations
on economic variables started to become available.
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The first attempt at quantitative economic analysis is attributed to Gregory King,
who was the first to fit a linear function of changes in corn prices on deficiencies in the
corn harvest, as reported in Charles Davenant (1698). One important consideration in the
empirical work of King and others in this early period seems to have been the discovery
of ‘laws’ in economics, very much like those in physics and other natural sciences.
This quest for economic laws was, and to a lesser extent still is, rooted in the desire to
give economics the status that Newton had achieved for physics. This was in turn reflectedin the conscious adoption of the method of the physical sciences as the dominant mode of
empirical enquiry in economics. The Newtonian revolution in physics, and the philosophy
of ‘physical determinism’ that came to be generally accepted in its aftermath, had farreaching
consequences for the method as well as the objectives of research in economics.
The uncertain nature of economic relations only began to be fully appreciated with the
birth of modern statistics in the late 19th century and as more statistical observations
on economic variables started to become available.
การแปล กรุณารอสักครู่..
