The Necessity Of Positive And Normative Economics

The Necessity of Positive and Normative Economics Keynes once wrote: “The determination of a positive science is the establishment of uniformities, of a normative science the determination of ideals.” (Blaug, 122) This is the dichotomy that economists recognize when approaching their issue of study. The social scientist must recognize both positive and prescriptive distinctions, means and ends, as important factors of fruitful research. Secondly, they must clear express the conditions and as wedlockption which theories holds in order for economics to be useful for society.

Positive sc ience is that which is a fact of report card or a fact by translation. In mathematics this is the difference between the familiarity that the angles of a triangle sum total to 180 degrees, and the definition of a triangle as a two dimensional polygon with 3 sides. In economics, much(prenominal) facts of knowledge include that money is a store of value, or facts of definition that the UN’s Human Developme...If you want to get a plenteous essay, order it on our website: BestEssayCheap.com

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