Full text: Study week on the econometric approach to development planning

The introduction to what I may perhaps call the genera’ -' o 
sophy of development of Professor Stone, I feel, has © >= in 
extremely appropriate, and a most significant contribution the 
Study Week. At a later stage I should like to make some observa. 
tions on the logical and philosophical aspects of Professor STONE’s 
paper rather than on the details of the mode’ 
If Prof. MAHALANOBIS feels that he is at this moment prepared to 
put questions or discuss the philosophical aspect., * think “+ II 
means that he should be allowed to do so now 
My first point is that any domain of interest in which observations 
have an operational meaning, that is, have a meaning in the sense 
of science, may be considered to be a part of (what I shall call) the 
world of reality. This world of reality must be distinguished from 
the world of mathematics, of logic, of purely formal relations. My 
next point is that in this world of reality we are always concerned 
with a bounded part of it, that is, limited in both space and time. So. 
1] Stone - pag. 37

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