It is a curious fact that men did not attempt to measure changes in the level of prices until after they had learned to measure such subtle things as the weight of the atmosphere, the velocity of sound...Their tardiness in attacking that problem is the more strange because price changes had frequently been a subject of acrimonious debate among publicists and a cause of popular agitation. Perhaps disinclination on the part of “natural philosophers” to soil their hands with such vulgar subjects as the prices of provision was partly responsible for the delay...
KeywordsPrice Index Axiom System Inequality Measure Reversal Test Quantity Index
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