Arnold Tustin The Mechanism of Economic Systems (1953) p. 1
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The possibility of a stable economic life with full utilization of our resources is still not sufficiently assured, and it is extremely important that it should be so assured, and that the whole world should accept this as a fact. The work that is being done in econometrics is massive, and undaunted by mathematical difficulties, but it appears, at any rate as viewed from outside, to be unclear as to its aim.
— Arnold Tustin on Econometrics
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "The possibility of a stable economic life with full utilization of our resources is still not sufficiently assured, and it is extremely important that it should be so assured, and that the whole world should accept this as a fact. The work that is being done in econometrics is massive, and undaunted by mathematical difficulties, but it appears, at any rate as viewed from outside, to be unclear as to its aim." in the context of "Arnold Tustin The Mechanism of Economic Systems (1953) p. 1" to mean that wisdom is timeless.
Source: Wikiquote: "Econometrics" (Quotes)
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About Arnold Tustin
Arnold Tustin (July 16, 1899 – January 9, 1994) was a British engineer, and Professor of Engineering at the University of Birmingham and at Imperial College London, who made important contributions to the development of control engineering and its application to electrical machines.
About Arnold Tustin
Arnold Tustin (July 16, 1899 – January 9, 1994) was a British engineer, and Professor of Engineering at the University of Birmingham and at Imperial College London, who made important contributions to the development of control engineering and its application to electrical machines.
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