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An Essay on the Nature and Significance of the Normative Nature of Economics

In: Essays on the Methodology and Discourse of Economics

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  • Warren J. Samuels

    (Michigan State University)

Abstract

It is conventional in economics to distinguish between the normative and the positive. The normative has to do with goodness and badness, and with what ought and ought not to be done;1 and the positive has to do with objective description and/or explanation, with what is and with what is necessary given some normative end. The normative has to do with desirability; the positive has to do with truth (in the sense of either descriptive accuracy or serviceability of a means to a given end).2

Suggested Citation

  • Warren J. Samuels, 1992. "An Essay on the Nature and Significance of the Normative Nature of Economics," Palgrave Macmillan Books, in: Essays on the Methodology and Discourse of Economics, chapter 5, pages 85-91, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-12371-1_6
    DOI: 10.1007/978-1-349-12371-1_6
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    Cited by:

    1. Hernando Matallana, 2009. "The Struggle Over the Real Wage In the Monetary Production Economy," Documentos CEDE 5271, Universidad de los Andes, Facultad de Economía, CEDE.

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