3 ms·
http://en.wikipedia.org/wiki/Normative_statement http://en.wikipedia.org/wiki/Normative_statement There is no way to prove this right or wrong. It is just a ba
by cellis 17y ago
http://en.wikipedia.org/wiki/Normative_statement http://en.wikipedia.org/wiki/Normative_statement
There is no way to prove this right or wrong. It is just a bad statement to make in the context of economics.
- albertsun 17y agoOn the contrary, there are several different ways to interpret "should" and much of economic literature is focused on making those interpretations. For example, is a given policy economically efficient? social welfare maximizing? from a firm's perspective, profit maximizing? or more generally, does it lead to a society that you would want to live in?