On "Econometrics" and the Use of Mathematics in Economic Analysis

One of the tasks posed by the Twenty- First Congress of the Communist Party of the Soviet Union is that of overcoming the lag in economics, which should study the laws governing the development of our system and furnish a sound foundation for economic planning and management, for assuring the proportionate development of the economy with the maximum utilization of all its possibilities for accelerating the advance towards communism. To this end economic science should make a deeper study of the operation of the laws of economic development, extending its analysis to both the qualitative aspect of social relations, and to quantitative relationships in the economy. This was the way in which it was founded and developed by Marx, Engels and Lenin.