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Normative economics

What's the definition?

Normative economics is the branch of economics that incorporates value judgments about what the economy should be like or what particular policy actions should be recommended to achieve a desirable goal. Normative economics looks at the desirability of certain aspects of the economy. It underlies expressions of support for particular economic policies.


Contrast with positive economics which is also known as value-free economics.







The infomation above is licensed under the GNU Free Documentation License and is derived from The Free Encyclopedia.com


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