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Positive economics as such avoids economic value judgments. For example, a positive economic theory might describe how money supply growth affects inflation, but it does not provide any instruction on what policy ought to be followed. An example of a normative economic statement is as follows:
First edition (publ. University of Chicago Press) Milton Friedman's book Essays in Positive Economics (1953) is a collection of earlier articles by the author with as its lead an original essay "The Methodology of Positive Economics."
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In A Treatise of Human Nature (1739), David Hume discusses the problems in grounding normative statements in positive statements; that is, in deriving ought from is.It is generally regarded that Hume considered such derivations untenable, and his 'is–ought' problem is considered a principal question of moral philosophy.
Friedman's essay "The Methodology of Positive Economics" (1953) provided the epistemological pattern for his own subsequent research and to a degree that of the Chicago School. There he argued that economics as science should be free of value judgments for it to be objective. Moreover, a useful economic theory should be judged not by its ...
The issue has become broader than a mere economic question: because of artificial intelligence and new generation computing, the industry is now critical to US defense and national security.
From January 2008 to December 2012, if you bought shares in companies when Roger N. Farah joined the board, and sold them when he left, you would have a -19.9 percent return on your investment, compared to a -2.8 percent return from the S&P 500.
The disadvantages of the use of financial result as a Key performance indicator. Operating components may be included in the financial result (e.g.: the income from financing activities).