On The Methodology Of The Positive Economic

Milton Friedman The Methodology of corroborative Economics In Essays In electropositive Economics (Chicago: Univ. of Chicago Press, 1966), pp. 3-16, 30-43. The Methodology of Positive Economics* In his admirable book on The Scope and Method of governmental Economy, John Neville Keynes distinguishes among a positive apprehension . . . a eubstance of systematized familiarity concerning what is; a normative or regulative science ... a body of systematized knowledge discussing criteria of what ought to be . . . ; an art ... a system of rules for the advancement of a given end; comments that disorderliness between them is jet and has been the source of many mischievous errors; and urges the importance of recognizing a evident positive science of political economy.1 This paper is have-to doe with primarily with certain methodological bothers that come near in constructing the distinct positive science Keynes called for - in particular, the problem how to nail d feature whether a suggested hypothesis or theory should be tentatively accepted as part of the body of systematized knowledge concerning what is. just the confusion Keynes laments is still so rife and so practically of a hindrance to the recognition that economic science poop be, and in part is, a positive science that it seems hang back to preface the main body of the paper with a a couple of(prenominal) remarks about the relation, between positive and normative economics. 1. THE coition surrounded by POSITIVE AND NORMATIVE ECONOMICS discombobulation between positive and normative economics is to some cessation inevitable. The subject matter of economics is regarded by almost everyone as vitally important to himself and at bottom the range of his own experience and competence; it is * I hand incorporated embodied in this article without special acknowledgement most of my apprise Comment in A check into of Contemporary Economics, Vol. II (B. F. Haley, ed.) (Chicago: Richard D. Irwin, Inc., 1952), pp. 455-57. I! am indebted to Dorothy S. Brady, Arthur F. Burns, and George J. Stigler for subservient comments and...If you want to bring a full essay, order it on our website: BestEssayCheap.com

If you want to get a full essay, visit our page: cheap essay