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Normative foundations of scarcity

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  • Zaman, Asad

Abstract

The elevation of scarcity to the fundamental economic problem rests on some unstated normative assumptions. These include a political commitment to private property, a methodological commitment to not inquire about taste formation, and the idea that human welfare is roughly equivalent to preference satisfaction.

Suggested Citation

  • Zaman, Asad, 2010. "Normative foundations of scarcity," MPRA Paper 21817, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:21817
    as

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    File URL: https://mpra.ub.uni-muenchen.de/21817/1/MPRA_paper_21817.pdf
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    References listed on IDEAS

    as
    1. Caplin, Andrew & Schotter, Andrew, 2008. "The Foundations of Positive and Normative Economics: A Handbook," OUP Catalogue, Oxford University Press, number 9780195328318.
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    Cited by:

    1. Asad Zaman, 2012. "Methodological Mistakes and Econometric Consequences," International Econometric Review (IER), Econometric Research Association, vol. 4(2), pages 99-122, September.
    2. Asad Zaman, 2014. "Islam versus economics," Chapters, in: M. Kabir Hassan & Mervyn K. Lewis (ed.), Handbook on Islam and Economic Life, chapter 3, pages iii-iii, Edward Elgar Publishing.
    3. Asad Zaman, 2016. "Markets and Society," PIDE-Working Papers 2016:136, Pakistan Institute of Development Economics.

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    More about this item

    Keywords

    Scarcity; Normative Positive Distinction; Fact Value Distinction; private property; welfare; revealed preference;
    All these keywords.

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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