On The Methodology Of The Positive Economic

Milton Friedman The Methodology of corroborative Economics In Essays In supportive 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 political Economy, John Neville Keynes distinguishes among a positive apprehension . . . a eubstance of systematized familiarity concerning what is; a normative or regulative science ... a consistency of systematized knowledge discussing criteria of what ought to be . . . ; an art ... a system of rules for the achievement of a given end; comments that disorderliness between them is commonplace and has been the source of many mischievous errors; and urges the importance of recognizing a diaphanous positive science of political economy.1 This paper is touch primarily with certain methodological bothers that come near in constructing the distinct positive science Keynes called for - in particular, the problem how to go under wheth er a suggested hypothesis or theory should be tentatively accepted as part of the body of systematized knowledge concerning what is.

further the confusion Keynes laments is still so rife and so oft of a hindrance to the recognition that economic science buttocks be, and in part is, a positive science that it seems puff 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 sexual congress surrounded by POSITIVE AND NORMATIVE ECONOMICS muddiness between positive and normative economics is to some terminus inevitab le. The subject matter of economics is regar! ded by almost everyone as vitally important to himself and at bottom the range of his stimulate experience and competence; it is * I hand incorporated material in this article without special acknowledgement most of my shortened 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 become a full essay, order it on our website: BestEssayCheap.com

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