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Economics, especially Behavioral economics, is Descriptive, not prescriptive.
by bobosha 6y ago
Economics, especially Behavioral economics, is Descriptive, not prescriptive.
- tomjakubowski 6y agoClassically (read: what I was taught in AP Econ 15 years ago), "normative economics", which is prescriptive and meant to inform policy, is divided from from "positive economics", which attempts to describe and rationalize economic activity. https://en.wikipedia.org/wiki/Normative_economics https://en.wikipedia.org/wiki/Normative_economics
- selimthegrim 6y agoSomeone should tell the MMT people that