Investment, an exact science

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Monograph

Identifikator:: 865521182

URN:: urn:nbn:de:zbw-retromon-48767

Document type:: Monograph

Author:: Lowenfeld, Henry

Title:: Investment, an exact science

Place of publication:: London

Publisher:: The Financial Review of Reviews

Year of publication:: 1906

Scope:: 1 Online-Ressource (X, 160 Seiten)

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VI - The treatment of existing investment lists

Collection:: Economics Books

PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 20 some other country. It is possible to make models which are rea- listic in the sense of Professor STONE but which cannot be verified in the U.S.A., because there is not much of central planning there, but which are capable of being verified in the U.S.S.R., or which may find great opportunities for experimentation in a centrally plan- ned country like U.S.S.R. To sum up, I suggest that it would be useful to go into the question of terminology at one stage, to identify the hierarchical levels of multi-dimensional analysis. Professor FRISCH may be able to think of suitable words. An appropriate terminology would be of help in fitting « macro » or « micro » models at different levels into a global frame of the world as a whole, and to delimit different domains of interest (also of a multi-dimensional character, and cover- ing, as necessary, both social and political aspects) to suit the purpose in view. WoLD It is most appropriate that Prof. MAHALANOBIS has given us some broad indications towards a general frame of reference for our Study Week. Prof. STONE’s excellent paper gave a very good start in this direction, and Prof. MAHALANOBIS has now emphasized the regional view of the globe. I would like to take up another basic aspect, also with a view to clarify fundamental ideas, namely the general philosophy of model building. The need for a broad consensus about views and terminology is here so much the more pressing, as the lite- rature of professional philosophy leaves much to be desired in this respect. The situation is somewhat paradoxical, for in almost any creatise of philosophy of science we find a laudable introductory statement to the effect that the area of the treatise is the procedures and methods in current use in the many branches of science, the purpose of philosophy of science being to study and assess the general principles of scientific inference; on the other hand it is clear that although the approach of model building by and large is all pervading '1] Stone - pag. 90

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