This book investigates the historical development of econometrics as a discipline and the intellectual evolution of the generation that sought to transform economics into a rigorous, quantitative science. Francisco Louçã, a noted economist and historian, examines the foundational contributions of figures like Ragnar Frisch and the broader movement to apply physical and mathematical models to social phenomena. The text explores the tension between mechanical modeling and the complexities of human behavior, tracing the rise of the econometric movement through the mid-20th century.

Experts recognize this work as a detailed historical account of the professionalization of econometrics. Readers frequently note the academic density of the prose, which provides a thorough examination of the intellectual debates that shaped modern economic methodology.