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Model-making

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According to sociologist of quantification Mary S. Morgan David Ricardo can be considered one of the pioneers in economic modelling [1]: 45 . In studying rents, for example, Ricardo experiments numerically to determine the relative share of profit accruing to land owner, capital holder and laborers through what Morgan calls 'numerical model farming'. In his numerical and verbal accounts Ricardo tests different improvements in capital, technology or labour to increase the yield of a farm, paralleling actual experiments by his contemporaries such as "Turnip" Townshend.[1]: 61 

  1. ^ a b Morgan, M. S. (17 September 2012). The World in the Model: How Economists Work and Think. Cambridge University Press. ISBN 978-1-107-00297-5..