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Topic: Normative economics

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  Economics and Economic Justice
Normative economics itself may be partly guilty for this state of affairs, in view of its repeated failure to provide conclusive results and its long-lasting focus on impossibility theorems (see § 4.1).
Normative economics uses the formal apparatus of economics, which gives powerful means to derive non-intuitive conclusions from simple arguments, although it also deprives the analyst of the possibility of exploring issues that are hard to formalize.
Welfare economics is the traditional generic label of normative economics, but, in spite of substantial variations between authors, it now tends to be associated with a particular subcontinent of this domain, maybe as a result of the development of "non-welfarist" approaches and of approaches with a broader scope, such as the theory of social choice.
plato.stanford.edu /entries/economic-justice   (11432 words)

 Positive economics - Wikipedia, the free encyclopedia
Positive economics, value-free economics or wertfrei economics (from the German wertfrei, meaning value-free) is the part of economics that focuses on facts and cause-and-effect relationships.
Such scientific-based analysis is critical to normative economics, the ranking of economic policies or outcomes as to acceptability.
Positive economics is sometimes defined as he economics of "what is", whereas normative economics discusses "what ought to be".
en.wikipedia.org /wiki/Positive_economics   (217 words)

 Normative economics - Wikipedia, the free encyclopedia
Normative economics is the branch of economics that incorporates value judgments about what the economy should be like or what particular policy actions should be recommended to achieve a desirable goal.
Normative economics looks at the desirability of certain aspects of the economy.
Contrast with positive economics, which is sometimes known as "value-free economics."
en.wikipedia.org /wiki/Normative_economics   (103 words)

 Economics - Wikipedia, the free encyclopedia
Economics has two broad branches: microeconomics, where the unit of analysis is the individual agent, such as a household or firm, and macroeconomics, where the focus is on aggregates, the sum of the supply and demand in an economy, or the total net result of buying and selling.
Economic reasoning has in recent decades been increasingly applied to social situations where there is no monetary consideration, such as politics, law, psychology, history, crime, war, religion, marriage and family life, and other social interactions.
Heterodox economics, including institutional economics, Marxist economics, socialism, and green economics, sometimes make other grounding assumptions, such as that economics primarily deals with the exchange of value, and that labour (human effort) is the source of all value.
en.wikipedia.org /wiki/Economics   (5965 words)

 On Economics and Ethics
2 Cognitivism and non-cognitivism in ethics and normative economics
It is assumed that these norms are justified for the addressees of the justification independently of their own factual aims, ends, or values.
Further, it might even be asked why normative economics should be confined to instrumental or technological questions whereas the scrutiny of other cognitively accessible practical results is left to ethics.
www.gmu.edu /jbc/fest/late_entries/Kliemt/KliemtPoB1(9-36).htm   (7950 words)

 Normative Economics:   (Site not responding. Last check: 2007-10-31)
Hear a bunch of normative economic statements during political elections
Normative economics tends to be subjective, value laden, and emotional in its presentation.
Normative economics is often referred to as “What ought to be” economics.
www.cals.ncsu.edu /course/are012/lecture/lectur1/tsld005.htm   (142 words)

 Philosophy of Economics
Economics is of particular interest to those interested in epistemology and philosophy of science both because of its detailed peculiarities and because it possesses many of the overt features of the natural sciences, while its object consists of social phenomena.
Economics is thus a test case for those concerned with the extent of the similarities between the natural and social sciences.
Economic methodologist have paid little attention to debates within philosophy of science between realists and anti-realists (van Fraassen 1980, Boyd 1984), because economic theories rarely postulate the existence of unobservable entities or properties, apart from variants of “everyday unobservables,” such as beliefs and desires.
plato.stanford.edu /entries/economics   (15747 words)

 H. Reiju Mihara as a Normative Economist   (Site not responding. Last check: 2007-10-31)
Since economics has "officially" been a value-free science (that is, it avoids value judgments), normative economics has conventionally adopted a certain trick.
The fact is that in the conventional normative economics (usually called "welfare economics"), the "if" part (a performance criterion) has almost always been concerned with efficiency.
Normative economics belongs to the intersection of several disciplines---including ethics and economics.
www.ec.kagawa-u.ac.jp /~reiju   (889 words)

Economics is a social science that studies society's allocation of scarce resources to meet desires and wants.
Economics therefore starts from the premise that resources are in limited supply and that it is necessary to choose between competing alternatives.
Economics is often said to be positive when it attempts to explain the consequences of different choices and normative when it prescribes a certain route of action.
www.fastload.org /ec/Economics.html   (996 words)

 Economics Interactive
Normative statements often contain the prescriptive words “should” or “ought.” For example, you might agree with the army of economists who think that government regulations “should” be reformed if specific policies are unarguably inefficient, but even this view is intrinsically normative.
All policies hinge on normative issues, but if economists design policies intended to achieve goals set by policy makers, then their quest can be positive in nature.
Economics instructors and students are hereby granted provisional permission to use these materials for educational purposes only.
www.unc.edu /depts/econ/byrns_web/Economicae/Figures/Positive-Normative.htm   (791 words)

 WowEssays.com - The Necessity Of Positive And Normative Economics
Keynes once wrote: “The object 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 field of study.
In mathematics this is the difference between the knowledge that the angles of a triangle sum to 180 degrees, and the definition of a triangle as a two dimensional polygon with 3 sides.
Normative economics are those value statements which guide our use and development of positive science.
www.wowessays.com /dbase/ab5/lvt365.shtml   (1059 words)

 Positive Economics   (Site not responding. Last check: 2007-10-31)
According to Friedman, positive economics has to do with "what is," while normative economics has to do with "what ought to be." Positive economics is a social science, and as such is subject to the same checks on the basis of evidence as any science.
It is true that economics cannot rely on experimental methods to verify its hypotheses, in many cases.
In the last analysis, positive economics is the servant of normative economics.
william-king.www.drexel.edu /top/prin/txt/intro/ECO111u.html   (587 words)

 Economist's View: Positively Normative Economic Analysis
One thing I have always liked about economics is its attempt to separate positive and normative analysis to be as scientific as possible.
In contrast non-positivists reject the notion that the methods of the natural sciences are adequate in explaining and describing humanity and society - this is primarily because of the 'meanings' that humans attach to their actions.
I cannot write a letter to the local paper and say a particular initiative or proposed economic policy makes no economic sense and sign it as a member of the Economics Department at the UO (though I could sign just my name without the Department and University affiliation and that would be okay).
economistsview.typepad.com /economistsview/2005/11/positively_norm.html   (1720 words)

Economics is said to be normative when it recommends one choice over another, or when a subjective value judgment is made.
Economic policy often revolves around arguments about the cause of "economic friction", or price stickiness, and which is, therefore, preventing the supply and demand from reaching equilibrium.Another area of economic controversy is about whether price measures value correctly.
An example of the confirmative value of economic theory would be confirmation (or dismissal) of theories concerning the relation between marginal tax rates and the deficit.Formal modeling is motivated by general principles of consistency and completeness.Formal modeling has been adapted to some extent by all branches of economics.
www.dirpedia.com /economics.html   (5128 words)

 Positive vs Normative Economics
In a similar way, there are value judgments in (and around) "positive economics," and there are often empirical observations in "normative economics." But the labels are still useful so that reader and writer agree on whether the basic task is to discover something about the world -- or not.
So even if you think the distinction between positive and normative economics doesn't work, it can be a useful convention to let the student or reader know what's coming.
In that discourse the question with respect to the role of ethics is debated in the positive v normative terms of efficiency versus the fairness (of initial endowments, policies, and outcomes).
www.eh.net /pipermail/eh.teach/1994-December/000180.html   (1147 words)

 Tutor2u - Positive and Normative Economics
They may suggest an economic relationship that can be tested by recourse to the available evidence.
Positive economics can be described as “what is, what was, and what probably will be” economics.
Normative statements are subjective - based on opinion only - often without a basis in fact or theory.
www.tutor2u.net /economics/content/topics/introduction/positive_and_normative_economics.htm   (430 words)

 Untitled Document   (Site not responding. Last check: 2007-10-31)
Normative economics, in contrast, involves someone's value judgments about what the economy should be like or what particular policy action should be recommended based on a given economic generalization or relationship (1993, 6).
There is another type of overlap between positive and normative economics that I cannot find acknowledged in any of nineteen recently published introductory texts.1 Namely, the basic motivation and orientation of the texts are value-laden, but the authors present these subjective formulations in positive terms.
Professors of economics might be inclined to answer some of my points with arguments from their advanced studies.
www.southwestern.edu /~northroe/research/normative.html   (4916 words)

 Evangelicals and Economics
That said, the study of economics is frequently limited in scope; thus, evangelicals would do well to learn the economic way of thinking, using a biblical worldview and applying it to topics of biblical concern.
Positive economics is meant to represent the "what is" portion of economic analysis; normative economics is meant to represent the "what should be" part.
It then follows that one’s normative views about ui are influenced by an understanding of the qualitative effects and a prediction of the size of the quantitative effects–as well as normative beliefs about human nature, the desirability of the end, and the appropriateness of the means to the end.
www.acton.org /publicat/randl/article.php?id=265   (2276 words)

 Positive and Normative
If their disagreement is on normative grounds, they know that their disagreement lies outside the realm of economics, so economic theory and evidence will not bring them together.
One must make a judgment about what goals are desirable (the normative part), and decide on a way of attaining those goals (the positive part).
Put somewhat differently, addressing most normative issues ultimately depends on how one answers the following question: "What is the meaning of life?" One does not study economics to answer this question.
www.ingrimayne.com /econ/Introduction/Normativ.html   (526 words)

 Positive and Normative Economics
The tools of positive economics are reason, logic and empiricism.
Statements that include indicator words such as: should, ought, or prefer are likely to be normative rather than positive.
Normative economics means to include value judgments in our reasoning.
www.cr1.dircon.co.uk /TB/1/positiveandnormative.htm   (90 words)

The normative economics of unanimity and equality: Equity, adequacy and fundamental dominance with applications to matchings and wages, in Social choice, Justice and Voting, Proceedings of the 9th World Congress of the International Economic Association.
The normative economics of unanimity and equality: Equity, adequacy and fundamental dominance, in Markets and Welfare, ed.
The ethical economics of envy, Ceras-90, German Bernacer Lecture, University of Alicante, 1991.
www.ehess.fr /kolm/document.php?id=37   (967 words)

 Normative Economics/Introduction
These principles are the principles of social justice: they provide a way of assigning rights and duties in the basic institutions of society and they define the appropriate distribution of the benefits and burdens of social cooperation (Rawls 1971, 3-4).
The analysis of institutions developed here suggests that a theory of justice should contain two primary normative standards ó one which tells us where it is best to be on the common interest axis, and another than tells us where it is best to be on the conflict axis.
Both efficiency and fairness are normative standards, both of which can only be derived as part of a general theory of social justice.
www.erin.utoronto.ca /~w3phl296/text/intro.html   (3134 words)

 Environmental Economics: Normative versus Positive Economics Of Meat
The Environmental Economics blog is dedicated to the dissemination of economists’ views on current environmental and natural resource issues.
Normative statements are non-falsifiable statements of what should be.
So whether your normative view is: we shouldn't eat meat, or we should eat meat, the economic solution is price meat so we are free to choose the amount that produces the largest net benefit...that may be zero, but maybe not.
www.env-econ.net /2006/06/normative_versu.html   (2268 words)

 A Level Revision made easy with Oxford School of Learning
As stated in (1) however, the probably outcome of an economic event may be an opinion without being a value-judgement.
Positive economics tells us that this method may not be the one most likely to succeed (based on current events).
Even the definition of success is a normative judgement - is it measured on percentages or local percentages, or according to income levels.
www.osl-ltd.co.uk /essays/positive_normative_economics.asp   (270 words)

 bp_casefair_econf_7e|The Scope and Method of Economics|The Method of Economics
Economics provides us with a way of thinking, and one of the most important aspects of that way of thinking is the distinction between positive economics and normative economics.
Economics equips us to deal better with positive questions than with normative ones, because the latter involve value judgments.
For example, the desirability of raising the minimum wage (a normative issue) depends, in large measure, on whether unemployment goes up, and by how much (a positive issue).
wps.prenhall.com /bp_casefair_econf_7e/0,8233,2030383-,00.html   (161 words)

 Positive and Normative Economics - Introduction to Microeconomics - Economics - Learning Materials   (Site not responding. Last check: 2007-10-31)
Positive and Normative Economics - Introduction to Microeconomics - Economics - Learning Materials
Home > Learning Materials > Economics > Introduction to Microeconomics > Positive and Normative Economics
The following constitutes a full list of resources on Biz/ed relating to Positive and Normative Economics.
www.bized.ac.uk /learn/economics/micro/posnorm/index.htm   (91 words)

 Normative economics - Definition from Investor Dictionary - Define meaning of the word Normative economics
Normative economics - Definition from Investor Dictionary - Define meaning of the word Normative economics
Contrast with positive economics which is also known as value-free economics.
Principles and Methods of Law and Economics: Enhancing Normative Analysis
www.investordictionary.com /definition/normative+economics.aspx   (175 words)

 Find in a Library: Essays in normative economics.
Find in a Library: Essays in normative economics.
Publisher: Cambridge, Belknap Press of Harvard University Press, 1966.
WorldCat is provided by OCLC Online Computer Library Center, Inc. on behalf of its member libraries.
www.worldcatlibraries.org /wcpa/ow/9ffc0bfb9dd70643.html   (52 words)

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