The Representational Theory of Measurement conceives measurement as establishing homomorphisms from empirical relational structures into numerical relation structures, called models. Models function as measuring instruments by transferring observations of an economic system into quantitative...

The article discusses economic models as instruments of measuring economic phenomena from obtainable numerical facts; as in the theory of measurement where measurement is the mapping of a property of the empirical world into sets of numbers. Contributions of notable people such as Ragnar Frisch...

Development economics in the 1950s and 1960s, as Tinbergen and Adelman saw it, was a “groping in the dark.” Besides the limited knowledge of dynamic mechanisms, the lack of data was a severe problem for any attempt at modeling, whether macroeconomic, input-output or in the tradition of...