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| economics positive and normative: The Foundations of Positive and Normative Economics Andrew Caplin, Andrew Schotter, 2010-06-25 The Foundations of Positive and Normative Economics: A Handbook is the first book in a new series by Andrew Caplin and Andrew Schotter. There is currently no guide available on the rapidly changing methodological frontiers of the field of economics. Economists have been introducing new theories and new sources of data at a remarkable rate in recent years, and there are widely divergent views both on how productive these expansions have been in the past, and how best to make progress in the future. The speed of these changes has left economists ill at ease, and has created a backlash against new methods. The series will debate these critical issues, allowing proponents of a particular research method to present proposals in a safe yet critical context, with alternatives being clarified. This first volume, written by some of the most prominent researchers in the discipline, reflects the challenges that are opened by new research opportunities. The goal of the current volume and the series it presages, is to formally open a dialog on methodology. The editors' conviction is that such a debate will rebound to the benefit of social science in general, and economics in particular. The issues under discussion strike to the very heart of the social scientific enterprise. This work is of tremendous importance to all who are interested in the contributions that academic research can make not only to our scientific understanding, but also to matters of policy. |
| economics positive and normative: The Lost Art of Economics David C. Colander, 2001 Following up on his 1990 collection of essays Why Aren't Economists as Important as Garbagemen, Colander (Economics, Middlebury College, Vermont) reprints another 12 essays expressing his evolving ideas about the work and profession. They are intended for general academic readers, though he warns that economists will understand some parts than others, and to be fun to read. c. Book News Inc. |
| economics positive and normative: Essays in Positive Economics Milton Friedman, 1953 This paper is concerned primarily with certain methodological problems that arise in constructing the distinct positive science that John Neville Keynes called for, in particular, the problem how to decide whether a suggested hypothesis or theory should be tentatively accepted as part of the body of systematized knowledge concerning what is. |
| economics positive and normative: The Oxford Handbook of Professional Economic Ethics George F. DeMartino, Deirdre N. McCloskey, 2016-01-04 For over a century the economics profession has extended its reach to encompass policy formation and institutional design while largely ignoring the ethical challenges that attend the profession's influence over the lives of others. Economists have proven to be disinterested in ethics. Embracing emotivism, they often treat ethics a matter of mere preference. Moreover, economists tend to be hostile to professional economic ethics, which they incorrectly equate with a code of conduct that would be at best ineffectual and at worst disruptive to good economic practice. But good ethical reasoning is not reducible to mere tastes, and professional ethics is not reducible to a code. Instead, professional economic ethics refers to a new field of investigation-a tradition of sustained and lively inquiry into the irrepressible ethical entailments of academic and applied economic practice. The Oxford Handbook of Professional Economic Ethics explores a wide range of questions related to the nature of ethical economic practice and the content of professional economic ethics. It explores current thinking that has emerged in these areas while widening substantially the terrain of economic ethics. There has never been a volume that poses so directly and intensively the question of the need for and content of professional ethics for economics. The Handbook incorporates the work of leading scholars and practitioners, including academic economists from various theoretical traditions; applied economists, beyond academia, whose work has direct and immense social impact; and philosophers, professional ethicists, and others whose work has addressed the nature of professionalism and its implications for ethical practice. |
| economics positive and normative: The Methodology of Positive Economics Uskali Mäki, 2009-05-28 A team of world-renowned experts cast new light on Milton Friedman's 1953 essay 'The methodology of positive economics'. |
| economics positive and normative: A Tea Reader Katrina Avila Munichiello, 2017-03-21 A Tea Reader contains a selection of stories that cover the spectrum of life. This anthology shares the ways that tea has changed lives through personal, intimate stories. Read of deep family moments, conquered heartbreak, and peace found in the face of loss. A Tea Reader includes stories from all types of tea people: people brought up in the tea tradition, those newly discovering it, classic writings from long-ago tea lovers and those making tea a career. Together these tales create a new image of a tea drinker. They show that tea is not simply something you drink, but it also provides quiet moments for making important decisions, a catalyst for conversation, and the energy we sometimes need to operate in our lives. The stories found in A Tea Reader cover the spectrum of life, such as the development of new friendships, beginning new careers, taking dream journeys, and essentially sharing the deep moments of life with friends and families. Whether you are a tea lover or not, here you will discover stories that speak to you and inspire you. Sit down, grab a cup, and read on. |
| economics positive and normative: A Short Course in Intermediate Microeconomics with Calculus Roberto Serrano, Allan M. Feldman, 2012-11-30 This is a textbook for an intermediate level course in microeconomics that uses calculus throughout. Most of the competition either uses no calculus or relegates the math to footnotes and appendices. The text also focuses on theory rather than empirical data. To motivate the analysis, the authors include references to real events and firms, with no distracting separate boxes. |
| economics positive and normative: Firms' Objectives and Internal Organisation in a Global Economy Luca Lambertini, 2009-10-09 The interplay between firms’ internal organization and market behaviour is a long standing issue in industrial economics. This book examines firms’ objectives in the comparatively new perspective shaped by globalization. The positive and normative aspects of theoretical analysis are developed and richly complemented by empirical studies. |
| economics positive and normative: The End of Value-Free Economics Hilary Putnam, Vivian Walsh, 2012-03-15 This book brings together key players in the current debate on positive and normative science and philosophy and value judgements in economics. Both editors have engaged in these debates throughout their careers from its early foundations; Putnam as a doctorial student of Hans Reichenbach at UCLA and Walsh a junior member of Lord Robbins’s department at the London School of Economics, both in the early 1950s. This book collects recent contributions from Martha Nussbaum, Amartya Sen and Partha Dasgupta, as well as a new chapter from the editors. |
| economics positive and normative: Where Economics Went Wrong David Colander, Craig Freedman, 2018-11-27 How modern economics abandoned classical liberalism and lost its way Milton Friedman once predicted that advances in scientific economics would resolve debates about whether raising the minimum wage is good policy. Decades later, Friedman’s prediction has not come true. In Where Economics Went Wrong, David Colander and Craig Freedman argue that it never will. Why? Because economic policy, when done correctly, is an art and a craft. It is not, and cannot be, a science. The authors explain why classical liberal economists understood this essential difference, why modern economists abandoned it, and why now is the time for the profession to return to its classical liberal roots. Carefully distinguishing policy from science and theory, classical liberal economists emphasized values and context, treating economic policy analysis as a moral science where a dialogue of sensibilities and judgments allowed for the same scientific basis to arrive at a variety of policy recommendations. Using the University of Chicago—one of the last bastions of classical liberal economics—as a case study, Colander and Freedman examine how both the MIT and Chicago variants of modern economics eschewed classical liberalism in their attempt to make economic policy analysis a science. By examining the way in which the discipline managed to lose its bearings, the authors delve into such issues as the development of welfare economics in relation to economic science, alternative voices within the Chicago School, and exactly how Friedman got it wrong. Contending that the division between science and prescription needs to be restored, Where Economics Went Wrong makes the case for a more nuanced and self-aware policy analysis by economists. |
| economics positive and normative: Economic Principles of Law Cento G. Veljanovski, 2007-05-31 Economic Principles of Law, first published in 2007, applies economics to the doctrines, rules and remedies of the common law. In plain English and using non-technical analysis, it offers an introduction and exposition of the 'economic approach' to law - one of the most exciting and vibrant fields of legal scholarship and applied economics. Beginning with a brief history of the field, it sets out the basic economic concepts useful to lawyers, and applies these to assess the core areas of the common law - property, contract, tort and crime - with particular emphasis on their doctrinal structure and remedies. This is done using leading cases drawn from the birthplace of the common law (England & Wales) and other common law jurisdictions. The book serves as a primer to the wider use of economics which has become increasingly important for law students, lawyers, legislators, regulators and those concerned with our legal system generally. |
| economics positive and normative: The Philosophy of Economics Daniel M. Hausman, 2008 This volume, explores the nature of economics as a science, including classic texts and newer essays. |
| economics positive and normative: What Works in Development? Jessica Cohen, William Easterly, 2010-02-01 What Works in Development? brings together leading experts to address one of the most basic yet vexing issues in development: what do we really know about what works— and what doesn't—in fighting global poverty? The contributors, including many of the world's most respected economic development analysts, focus on the ongoing debate over which paths to development truly maximize results. Should we emphasize a big-picture approach—focusing on the role of institutions, macroeconomic policies, growth strategies, and other country-level factors? Or is a more grassroots approach the way to go, with the focus on particular microeconomic interventions such as conditional cash transfers, bed nets, and other microlevel improvements in service delivery on the ground? The book attempts to find a consensus on which approach is likely to be more effective. Contributors include Nana Ashraf (Harvard Business School), Abhijit Banerjee (MIT), Nancy Birdsall (Center for Global Development), Anne Case (Princeton University), Jessica Cohen (Brookings),William Easterly (NYU and Brookings),Alaka Halla (Innovations for Poverty Action), Ricardo Hausman (Harvard University), Simon Johnson (MIT), Peter Klenow (Stanford University), Michael Kremer (Harvard), Ross Levine (Brown University), Sendhil Mullainathan (Harvard), Ben Olken (MIT), Lant Pritchett (Harvard), Martin Ravallion (World Bank), Dani Rodrik (Harvard), Paul Romer (Stanford University), and DavidWeil (Brown). |
| economics positive and normative: Economic Policy Agnès Bénassy-Quéré, Pierre Jacquet, Jean Pisani-Ferry, 2018 Concepts -- Issues -- Interdependence -- Fiscal policy -- Monetary policy -- Financial stability -- International financial integration and foreign-exchange policy -- Tax policy -- Growth policies |
| economics positive and normative: The Methodology of Economics Mark Blaug, 1992-07-31 This book is an examination of the nature of economic explanation. The opening chapters introduce current thinking in the philosophy of science and review the literature on methodology. Professor Blaug then turns to the troublesome question of the logical status of welfare economics, giving the reader an understanding of the outstanding issues in the methodology of economics. This is followed by a series of case studies of leading economic controversies, which shows how controversies in economics may be illuminated by paying attention to questions of methodology. A final chapter draws the strands together and gives the author's view of what is wrong with modern economics. This book is a revised and updated edition of a classic work on the methodology of economics, in which Professor Blaug develops his discussion of the latest developments in macroeconomics, general equilibrium theory and international trade theory. A new section on the rationality postulate is also added. |
| economics positive and normative: The Positive and the Normative in Economic Thought Sina Badiei, Agnès Grivaux, 2022-06-15 The book responds to the need for greater clarity regarding the relationship between descriptive, evaluative and prescriptive approaches within positive and normative economics. It also analyses the entanglement between evaluative and prescriptive perspectives within several theoretical frameworks in normative economics such as social choice theory, the capability approach, behavioural welfare economics and various theories of justice. It provides a forum for discussion between various schools of economic thought and several theoretical frameworks on the relationship between the study of facts, norms and values, with particular emphasis on classical political economy, the Marxian school of economics, the Frankfurt School, the Austrian school, the Chicago school, rational choice theory, expected utility theory, behavioural economics, experimental economics, development economics, welfare economics, public economics, constitutional political economy, the capability approach and politico-economic theories of justice. Given the scope of questions treated in this book, it will be of interest to economists, historians of economic thought, political philosophers and philosophers of science, especially those interested in the philosophy and epistemology of economics. |
| economics positive and normative: Price Theory Milton Friedman, 2021-03-22 |
| economics positive and normative: Macroeconomic Analysis Dirk Niepelt, 2019-12-31 A concise but rigorous and thorough introduction to modern macroeconomic theory. This book offers an introduction to modern macroeconomic theory. It is concise but rigorous and broad, covering all major areas in mainstream macroeconomics today and showing how macroeconomic models build on and relate to each other. The self-contained text begins with models of individual decision makers, proceeds to models of general equilibrium without and with friction, and, finally, presents positive and normative theories of economic policy. After a review of the microeconomic foundations of macroeconomics, the book analyzes the household optimization problem, the representative household model, and the overlapping generations model. It examines risk and the implications for household choices and macroeconomic outcomes; equilibrium asset returns, prices, and bubbles; labor supply, growth, and business cycles; and open economy issues. It introduces frictions and analyzes their consequences in the labor market, financial markets, and for investment; studies money as a unit of account, store of value, and medium of exchange; and analyzes price setting in general equilibrium. Turning to government and economic policy, the book covers taxation, debt, social security, and monetary policy; optimal fiscal and monetary policies; and sequential policy choice, with applications in capital income taxation, sovereign debt and default, politically motivated redistribution, and monetary policy biases. Macroeconomic Analysis can be used by first-year graduate students in economics and students in master's programs, and as a supplemental text for advanced courses. |
| economics positive and normative: The Nature and Method of Economic Sciences Ricardo F Crespo, Taylor & Francis Group, 2021-09-30 The Nature and Method of Economic Sciences: Evidence, Causality, and Ends argues that economic phenomena can be examined from five analytical levels: a statistical descriptive approach, a causal explanatory approach, a teleological explicative approach, a normative approach and, finally, the level of application. The above viewpoints are undertaken by different but related economic sciences, including statistics and economic history, positive economics, normative economics, and the 'art of political economy'. Typically, positive economics has analysed economic phenomena using the second approach, causally explaining and often trying to predict the future evolution of the economy. It has not been concerned with the ends selected by the individual or society, taking them as given. However, various new economic currents have emerged during the last 40 years, and some of these do assign a fundamental role to ends within economics. This book argues that the field of positive economics should adapt to deal with the issues that arise from this. The text attempts to discern the nature of economic phenomena, introducing the different approaches and corresponding economic sciences. It goes on to analyse the epistemological characteristics of these in the subsequent chapters, as well as their disciplinary interrelations. This book is a valuable resource for students and scholars of the social sciences, philosophy, and the philosophy of economics. It will also be of interest to those researching political economy and the development of economic thought. |
| economics positive and normative: Economic Analysis, Moral Philosophy, and Public Policy Daniel Hausman, Michael McPherson, Debra Satz, 2017 This book shows how careful attention to moral reasoning can enrich economic understanding and clarify the importance and the limits of an economic analysis of policy problems. |
| economics positive and normative: The Economics of Justice Richard A. Posner, 1983-08-16 Posner uses economic analysis to probe justice and efficiency, primitive law, privacy, and the constitutional regulation of racial discrimination. |
| economics positive and normative: The Theory of the Individual in Economics John B Davis, 2003-03-20 The concept of the individual and his/her motivations is a bedrock of philosophy. All strands of thought at heart come down to a particular theory of the individual. Economics, though, is guilty of taking this hugely important concept without questioning how we theorise it. This superb book remedies this oversight.The new approach put forward by Da |
| economics positive and normative: Poverty in the Philippines Asian Development Bank, 2009-12-01 Against the backdrop of the global financial crisis and rising food, fuel, and commodity prices, addressing poverty and inequality in the Philippines remains a challenge. The proportion of households living below the official poverty line has declined slowly and unevenly in the past four decades, and poverty reduction has been much slower than in neighboring countries such as the People's Republic of China, Indonesia, Thailand, and Viet Nam. Economic growth has gone through boom and bust cycles, and recent episodes of moderate economic expansion have had limited impact on the poor. Great inequality across income brackets, regions, and sectors, as well as unmanaged population growth, are considered some of the key factors constraining poverty reduction efforts. This publication analyzes the causes of poverty and recommends ways to accelerate poverty reduction and achieve more inclusive growth. it also provides an overview of current government responses, strategies, and achievements in the fight against poverty and identifies and prioritizes future needs and interventions. The analysis is based on current literature and the latest available data, including the 2006 Family Income and Expenditure Survey. |
| economics positive and normative: Behavioral Economics Philip J. Corr, Anke C. Plagnol, 2018 What is behavioral economics and why is it important? -- The ascent and dissent of economics -- Econ: homo economicus -- Human: more homer (simpson) than homo economicus -- Manners, monkeys and moods -- Nudge: whys, ways and weasels -- Sell! the commercial (and political) world of persuasion |
| economics positive and normative: The Size of Nations Alberto Alesina, Enrico Spolaore, 2005-01-14 The authors of this timely and provocative book use the tools of economic analysis to examine the formation and change of political borders. They argue that while these issues have always been at the core of historical analysis, international economists have tended to regard the size of a country as exogenous, or no more subject to explanation than the location of a mountain range or the course of a river. Alesina and Spolaore consider a country's borders to be subject to the same analysis as any other man-made institution. In The Size of Nations, they argue that the optimal size of a country is determined by a cost-benefit trade-off between the benefits of size and the costs of heterogeneity. In a large country, per capita costs may be low, but the heterogeneous preferences of a large population make it hard to deliver services and formulate policy. Smaller countries may find it easier to respond to citizen preferences in a democratic way. Alesina and Spolaore substantiate their analysis with simple analytical models that show how the patterns of globalization, international conflict, and democratization of the last two hundred years can explain patterns of state formation. Their aim is not only normative but also positive—that is, not only to compute the optimal size of a state in theory but also to explain the phenomenon of country size in reality. They argue that the complexity of real world conditions does not preclude a systematic analysis, and that such an analysis, synthesizing economics, political science, and history, can help us understand real world events. |
| economics positive and normative: The Foundations of Positive and Normative Economics Andrew Caplin, A. Schotter, 2008 |
| economics positive and normative: A General Theory of Economic Development Sung-Hee Jwa, 2017-06-30 This book makes the bold attempt at proposing a new general theory of economic development. The main premise is that economic institutions and policies must embody ‘economic discrimination’ if there is to be any chance of real economic development. By economic discrimination, the author means ‘treating differences differently’ by selecting and supporting economic entities and behaviour that contribute positively to the economy. The book identifies markets, government and corporations as the ‘holy trinity of economic development’, that is, the three most important institutions that must work together via economic discrimination to steer the economy towards real transformative progress. The book also warns against the current trend of economic egalitarianism or ‘not treating differences differently’ because it destroys economic incentives and results in an array of economic problems including growth stagnation. |
| economics positive and normative: A Theory of Fairness and Social Welfare Marc Fleurbaey, François Maniquet, 2011-06-13 The definition and measurement of social welfare have been a vexed issue for the past century. This book makes a constructive, easily applicable proposal and suggests how to evaluate the economic situation of a society in a way that gives priority to the worse-off and that respects each individual's preferences over his or her own consumption, work, leisure and so on. This approach resonates with the current concern to go 'beyond the GDP' in the measurement of social progress. Compared to technical studies in welfare economics, this book emphasizes constructive results rather than paradoxes and impossibilities, and shows how one can start from basic principles of efficiency and fairness and end up with concrete evaluations of policies. Compared to more philosophical treatments of social justice, this book is more precise about the definition of social welfare and reaches conclusions about concrete policies and institutions only after a rigorous derivation from clearly stated principles. |
| economics positive and normative: Uncertainty in Economics Peter A. Diamond, Michael Rothschild, 1978 The First Edition, published in 1978, brought together classic and modern thinking in the economics of uncertainty and provided the first text in the area. This Second Edition includes three new articles, added material on search theory, an additional preface, and updated references. Articles, introduced with brief commentaries, are divided into three broad sections: theory of choice under uncertainty, general equilibrium models of financial institutions, and models of the effects of uncertainty on market institutions. |
| economics positive and normative: Economics as a Moral Science Jeffrey T. Young, 1997 Proposes new links between the moral theories and the economics of the first articulator of capitalism, arguing that moral questions lie at the heart of positive and normative economic analysis. Examines the methodology and philosophy of Smith's (1723-90) work, questions whether economics can or should be a value-free science, and shows how economics can be a useful tool in solving moral problems. Considers the concept of self- interest, the formation of moral values by individuals and society, the ethical effects of commercial society on the quality of life, justice, fairness, natural liberty, distributive equity, and the common good. Addressed to economists and philosophers. Much of the material has been previously published. Annotation copyrighted by Book News, Inc., Portland, OR |
| economics positive and normative: The Boundaries of Technique Andrew Yuengert, 2004 In this engaging and thought-provoking new work, Andrew Yuengert uses the moral philosophy of Thomas Aquinas to offer a fresh perspective on the sharp distinctions currently drawn between economics and ethics. In contract to modern philosophical approaches, which focus on the contrast between is and ought statements, a Thomistic analysis begins with the actions of economic researchers. This approach reconciles two popular extreme positions: economics as ethical at every turn, and economics as morally neutral. Exploring recent controversies over the role of ethics in economics, The Boundaries of Technique encourages scholars and students to discover and debate the ways in which economics is insulated from ethics, and the ways in which it is dependent upon it. Ultimately, by bringing readers to a deeper awareness of the intrinsic involvement of the individual and the responsibility of moral choice, Yuengert makes an invaluable contriubtion to the study and practice of economics. |
| economics positive and normative: The Economic Foundations of Government Randall G. Holcombe, 2016-07-27 Government is analysed as the product of exchange among individuals who differ in their bargaining power. This approach shows why individuals agree to political institutions that give their governments extensive power, and why even the most powerful government benefits from constitutional rules constraining the government's power. This foundation is used to examine a wide range of government activities, including its protection of rights, its military activities, and democratic political institutions. |
| economics positive and normative: Philosophy of Economics Uskali Mäki, 2012-06-12 Part of the Handbook of the Philosophy of Science Series edited by: Dov M. Gabbay King's College, London, UK; Paul Thagard University of Waterloo, Canada; and John Woods University of British Columbia, Canada. Philosophy of Economics investigates the foundational concepts and methods of economics, the social science that analyzes the production, distribution and consumption of goods and services. This groundbreaking collection, the most thorough treatment of the philosophy of economics ever published, brings together philosophers, scientists and historians to map out the central topics in the field. The articles are divided into two groups. Chapters in the first group deal with various philosophical issues characteristic of economics in general, including realism and Lakatos, explanation and testing, modeling and mathematics, political ideology and feminist epistemology. Chapters in the second group discuss particular methods, theories and branches of economics, including forecasting and measurement, econometrics and experimentation, rational choice and agency issues, game theory and social choice, behavioral economics and public choice, geographical economics and evolutionary economics, and finally the economics of scientific knowledge. This volume serves as a detailed introduction for those new to the field as well as a rich source of new insights and potential research agendas for those already engaged with the philosophy of economics. Provides a bridge between philosophy and current scientific findings Encourages multi-disciplinary dialogue Covers theory and applications |
| economics positive and normative: Principles of Macroeconomics for AP® Courses 2e Steven A. Greenlaw, David Shapiro, Timothy Taylor, 2017 Principles of Macroeconomics for AP® Courses 2e covers the scope and sequence requirements for an Advanced Placement® macroeconomics course and is listed on the College Board's AP® example textbook list. The second edition includes many current examples and recent data from FRED (Federal Reserve Economic Data), which are presented in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition was developed with significant feedback from current users. In nearly all chapters, it follows the same basic structure of the first edition. General descriptions of the edits are provided in the preface, and a chapter-by-chapter transition guide is available for instructors. |
| economics positive and normative: The Moral Conditions of Economic Efficiency Walter J. Schultz, 2008-01-03 Walter J. Schultz illustrates the deficiencies of theories that purport to show that markets alone can provide the basis for efficiency. He argues that markets are not moral-free zones, and that achieving the economic common good does indeed require morality. He demonstrates that efficient outcomes of market interaction cannot be achieved without moral normative constraints and then goes on to specify a set of normative conditions that make these positive outcomes possible. |
| economics positive and normative: Too Many Children Left Behind Bruce Bradbury, Miles Corak, Jane Waldfogel, Elizabeth Washbrook, 2015-06-30 The belief that with hard work and determination, all children have the opportunity to succeed in life is a cherished part of the American Dream. Yet, increased inequality in America has made that dream more difficult for many to obtain. In Too Many Children Left Behind, an international team of social scientists assesses how social mobility varies in the United States compared with Australia, Canada, and the United Kingdom. Bruce Bradbury, Miles Corak, Jane Waldfogel, and Elizabeth Washbrook show that the academic achievement gap between disadvantaged American children and their more advantaged peers is far greater than in other wealthy countries, with serious consequences for their future life outcomes. With education the key to expanding opportunities for those born into low socioeconomic status families, Too Many Children Left Behind helps us better understand educational disparities and how to reduce them. Analyzing data on 8,000 school children in the United States, the authors demonstrate that disadvantages that begin early in life have long lasting effects on academic performance. The social inequalities that children experience before they start school contribute to a large gap in test scores between low- and high-SES students later in life. Many children from low-SES backgrounds lack critical resources, including books, high-quality child care, and other goods and services that foster the stimulating environment necessary for cognitive development. The authors find that not only is a child’s academic success deeply tied to his or her family background, but that this class-based achievement gap does not narrow as the child proceeds through school. The authors compare test score gaps from the United States with those from three other countries and find smaller achievement gaps and greater social mobility in all three, particularly in Canada. The wider availability of public resources for disadvantaged children in those countries facilitates the early child development that is fundamental for academic success. All three countries provide stronger social services than the United States, including universal health insurance, universal preschool, paid parental leave, and other supports. The authors conclude that the United States could narrow its achievement gap by adopting public policies that expand support for children in the form of tax credits, parenting programs, and pre-K. With economic inequalities limiting the futures of millions of children, Too Many Children Left Behind is a timely study that uses global evidence to show how the United States can do more to level the playing field. |
| economics positive and normative: Principles of Economics in Context Neva Goodwin, Jonathan M. Harris, Julie A. Nelson, Brian Roach, Mariano Torras, 2015-03-04 Principles of Economics in Context lays out the principles of micro- and macroeconomics in a manner that is thorough, up to date, and relevant to students, attuned to the economic realities of the world around them. It offers engaging treatment of important current topics such as new thinking in behavioral economics, financial instability and market bubbles, debt and deficits, and policy responses to the problems of unemployment, inequality, and environmental sustainability. This new, affordable edition combines the just-released new editions of Microeconomics in Context and Macroeconomics in Context to provide an integrated full-year text covering all aspects of both micro and macro analysis and application, with many up-to-date examples and extensive supporting web resources for instructors and students. Key features include: An eye-opening statistical portrait of the United States; Clear explanation of basic concepts and analytical tools, with advanced models presented in optional chapter appendices; Presentation of policy issues in historical, institutional, social, political, and ethical context--an approach that fosters critical evaluation of the standard microeconomic models, such as welfare analysis, labor markets, and market competition; Issues of human well-being, both domestic and global, are given central importance, enriching the topics and analytical tools to which students are introduced; The theme of sustainability--financial, social, and ecological--is thoroughly integrated in the book, with chapters on alternatives to standard GDP measurement, the environment, common property, public goods, and growth and sustainability in the twenty-first century; Full complement of instructor and student support materials online, including test banks and grading through Canvas. |
| economics positive and normative: Issues in Law and Economics Harold Winter, 2017-01-27 Is file-sharing destroying the music industry? Should the courts encourage breach of contract? Does the threat of malpractice lawsuits cause doctors to provide too much medical care? Do judges discriminate when sentencing? With Issues in Law and Economics, Harold Winter takes readers through these and other recent and controversial questions. In an accessible and engaging manner, Winter shows these legal issues can be reexamined through the use of economic analysis. Using real-world cases to highlight issues, Winter offers step-by-step analysis, guiding readers through the identification of the trade-offs involved in each issue and assessing the economic evidence from scholarly research before exploring how this research may be used to guide policy recommendations. The book is divided into four sections, covering the basic practice areas of property, contracts, torts, and crime, with a fifth section devoted to a concise introduction to the topic of behavioral law and economics. Each chapter concludes with a series of thought-provoking discussion questions that provide readers the opportunity to further explore important ideas and concepts. |
| economics positive and normative: The Reason of Rules Geoffrey Brennan, James M. Buchanan, 2000 In his foreword, Robert D Tollison identifies the main objective of Geoffrey Brennan and James M Buchanan's THE REASON OF RULES: ...a book-length attempt to focus the energies of economists and other social analysts on the nature and function of the rules under which ordinary political life and market life function. In persuasive style, Brennan and Buchanan argue that too often economists become mired in explaining the obvious or constructing elaborate mathematical models to shed light on trivial phenomena. Their solution: economics as a discipline would be better focused on deriving normative procedures for establishing rules so that ordinary economic life can proceed unaffected as much as possible by social issues. In THE REASON OF RULES, Brennan and Buchanan sketch out a methodological and analytical framework for the establishment of rules. They point out that the consideration of rules has its roots in classical economics and has been hinted at in the work of some contemporary economists. But the enterprise of applying the analytical rigor of modern economics to the establishment of effective rules is the little-traveled road that bears the most promise. In fact, the basic idea of the importance of rules is a thread that runs through virtually the whole of Buchanan's distinguished career, and it is one of his signal contributions to the contemporary discipline of economics. THE REASON OF RULES is an elaboration of the potential for rules and the normative process by which they can best be devised. |
| economics positive and normative: What Should Economists Do? James M. Buchanan, 1979 This volume is a collection of sixteen essays on three general topics: the methodology of economics, the applicability of economic reasoning to political science and other social sciences, and the relevance of economics as moral philosophy. Several essays are published here for the first time, including Professor Alchian on Economic Method, Natural and Artifactual Man, and Public Choice and Ideology. This book provides relatively easy access to a wide range of work by a moral and legal philosopher, a welfare economist who has consistently defended the primacy of the contractarian ethic, a public finance theorist, and a founder of the burgeoning subdiscipline of public choice. Buchanan's work has spawned a methodological revolution in the way economists and other scholars think about government and government activity. As a measure of recognition for his significant contribution, Dr. Buchanan was awarded the 1986 Nobel Prize in Economics. |
Positive vs. Normative Economics: Key Concepts & Differences
Nov 11, 2024 · Positive and normative economics differ largely in the nature of the statements each approach generates and the objectives they aim at. Positive economics provides …
Positive and normative economics - Wikipedia
Positive economics focuses on the description, quantification and explanation of economic phenomena, [1] while normative economics discusses prescriptions for what actions …
Positive vs. Normative Economics: What's the Difference? - Investopedia
Mar 19, 2025 · Positive economics focuses on the former, making objective and testable economic analysis based on data; normative economics focuses on the latter, with value …
Difference Between Positive and Normative Economics
Normative economics is described as a science based on opinions, values, and judgment. Positive economics is descriptive, but normative economics is prescriptive. Positive economics …
Positive vs. Normative Economics: A Comprehensive Guide
Dec 21, 2023 · Positive economics deals with facts, figures, and the laws of economics, while normative economics is about value judgements based on ethics.
Positive and Normative Economics: Key Differences and Their …
Feb 1, 2025 · Positive economics provides a factual basis for understanding financial realities, while normative economics introduces subjective preferences and value-driven goals. When …
Positive vs Normative Economics: Key Differences and ... - Vedantu
Positive economics is the study of ‘what is’; whereas normative economics describes ‘what should be’. One branch relies on a factual approach supported by data. Contrarily, normative …
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Feb 9, 2025 · While positive economics provides objective descriptions and predictions based on facts, normative economics offers value-based recommendations for economic policies. Both …
Normative and Positive Economics
May 18, 2017 · Mixed economies are the best form of economic system. – normative (even though the vast majority of economists would agree.) Explaining the difference between the two with …
Positive vs. Normative Economics: Differences & Examples
Oct 15, 2024 · Positive and normative economics serve complementary roles in economic analysis and policy-making. While positive economics offers objective, data-driven insights, …
Positive vs. Normative Economics: Key Concepts & D…
Nov 11, 2024 · Positive and normative economics differ largely in the nature of the statements each approach generates and the objectives they …
Positive and normative economics - Wikipedia
Positive economics focuses on the description, quantification and explanation of economic phenomena, [1] while normative economics …
Positive vs. Normative Economics: What's the Differ…
Mar 19, 2025 · Positive economics focuses on the former, making objective and testable economic analysis based on data; normative …
Difference Between Positive and Normative Economics
Normative economics is described as a science based on opinions, values, and judgment. Positive economics is descriptive, but normative …
Positive vs. Normative Economics: A Comprehensiv…
Dec 21, 2023 · Positive economics deals with facts, figures, and the laws of economics, while normative economics is about value judgements based on …
