A Comment to Guy H. Orcutt, ‘Toward Partial Redirection of Econometrics’

I am in almost complete agreement with Dr. Orcutt's views; in fact it is striking to what an extent my own forthcoming publication "On the Theory of Economic Policy" is based on the same approach. I t should be recognized, however, I think, that Frisch, in his "Memorandum on Price-Wage-Tax-Subsidy Policies" laid the foundations to this approach.