Fifty Years of Measurement: A Cambridge View

Michael Kitson

Chapter 17 in 50 Years a Keynesian and Other Essays, 2001, pp 219-237 from Palgrave Macmillan

Abstract: Abstract Fifty Years of Economic Measurement, edited by Ernst Berndt and Jack Triplett, commemorates 50 years of distinguished work at the National Bureau of Economic Research (NBER) Conference on Research in Income and Wealth.1 The contributions contained in the volume, which cover a range of empirical issues, are firmly based on the conceptual foundations of orthodox neoclassical economics and their implications for measurement. Our evaluation is from an alternative perspective, one which uses as its starting point the development of empirical work at the Cambridge Department of Applied Economics (DAE). The Cambridge tradition was, and is, sceptical of the relevance and explanatory power of much of neoclassical economics. It is a tradition which emphasises, rather than downplays, real world complexities and which stresses the conceptual and practical limitations of empirical analysis.

Keywords: Capital Good; Neoclassical Economic; Economic Measurement; Real World Complexity; Impartial Spectator (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-52331-9_17

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DOI: 10.1057/9780230523319_17

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