should one distinguish between economist’s descriptive statements, propositions,
ID: 1168604 • Letter: S
Question
should one distinguish between economist’s descriptive statements, propositions, and predictions about the world, and their statements about what policies should be adopted. should one distinguish between economist’s descriptive statements, propositions, and predictions about the world, and their statements about what policies should be adopted. should one distinguish between economist’s descriptive statements, propositions, and predictions about the world, and their statements about what policies should be adopted.Explanation / Answer
One should always distinguish between positive and normative statement.
Positive statements are those that based on theories , prediction and statements. These are based on what has been tested in cause and effect relation.
Normative statements on the other hand refers to what should be. These are ideal situations thhat are expected.
It is very important to distinguish between these two so that there remains clarity on what actually the situation is and what it should be. This can help in taking steps required to reach normative situation.