Economics – Normative or Welfare Economics?
Economics – Normative or Welfare Economics?
Normative economics deals with or studies what ought to be, or how the economic problems facing the society should be solved is Normative or welfare economics.
It is concerned with economic policies and it gives judgment about right or wrong in an economic situation.
If we have information about the tax rate in a country we may discuss its week points and suggest improvements.
So when economist studies the facts with neutrality, economics is said to be a positive science.
When suggestions are made to change the facts to achieve the desired objectives economics is said to be normative of welfare science e.g. the study about causes of unemployment in Pakistan would be positive science.B ut making the recommendation for unemployment allowance is normative study.
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Naeem Javid Muhammad Hassani is working as Conservator of Forests in Balochistan Forest & Wildlife Department (BFWD). He is the CEO of Tech Urdu (techurdu.net) Forestrypedia (forestrypedia.com), All Pak Notifications (allpaknotifications.com), Essayspedia, etc & their YouTube Channels). He is an Environmentalist, Blogger, YouTuber, Developer & Vlogger.