On The Methodology Of The Positive Economic

Milton Friedman The Methodology of corroborative Economics In Essays In affirmative 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 tree trunk of systematized knowledge discussing criteria of what ought to be . . . ; an art ... a system of rules for the proficiency of a given end; comments that disorderliness between them is unwashed 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 implicated primarily with certain methodological bothers that come near in constructing the distinct positive science Keynes called for - in particular, the problem how to regulate whe ther a suggested hypothesis or theory should be tentatively accepted as part of the body of systematized knowledge concerning what is. only if the confusion Keynes laments is still so rife and so frequently of a hindrance to the recognition that economic science nates be, and in part is, a positive science that it seems bosom 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 apprisal surrounded by POSITIVE AND NORMATIVE ECONOMICS sloppiness between positive and normative economics is to some boundary inevitable. The subject matter of economics is regarded by almost everyone as vitally important to himself and at bottom the range of his avouch experience and competence; it is * I hand incorporated material in this article without special acknowledgement most of my truncated Comment in A check into of Contemporary Economics, Vol. II (B. F. Haley, ed.) (Chicago: Richa rd D. Irwin, Inc., 1952), pp. 455-57. I am i! ndebted to Dorothy S. Brady, Arthur F. Burns, and George J. Stigler for subservient comments and...If you want to thrum a full essay, order it on our website: BestEssayCheap.com

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