#positive_and_normative_economics
Positive and normative economics
Epistemological principle
In the philosophy of economics, a descriptive or positive statement is an assertion about facts of the world, while prescriptive or normative statements express value judgments. The former describe the world as it is, while the latter talk about the world as it should be. The methodological basis for positive/normative distinction is rooted in the fact-value distinction in philosophy.
Thu 22nd
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