The Necessity of Positive and Normative Economics1 Keynes once wrote: “The object of a positive skill is the establishment of uniformities, of a normative comprehension the determination of ideals.” (Blaug, 122) This is the dichotomy that economists recognize when approaching their field of study. The pettish scientist must recognize both positive and normative distinctions, particularise and ends, as important factors of fruitful research. Secondly, they must clearly go forth the conditions and assumption which theories holds in order for economics to be utile for society.
Positive science is that which is a fact of nature or a fact by commentary. In mathematics this is the sledding between the intimacy that the angles of a triangle sum to one hundred eighty degrees, and the exposition of a triangle as a devil dimensional polygon with 3 sides. In economics, such facts of knowledge include that money is a store of value, or facts of definition that the UN’s Human Developm...If you want to get a salutary essay, order it on our website:
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