Economics – Positive science and normative or welfare science?
Economics – Positive science or normative?
There is a difference of opinion among economist whether Economics is positive science or normative science.
According to Robbins, senior and Friedman have described the economics as a positive science. Their views are that economics is based on logic.
It neutrally studies the facts as they are e.g. percentage of the population engaged in Agriculture in Pakistan is falling is a positive statement. And if the rate of interest rises the demand for money will fall, If price fall demand for a commodity will increase these are all positive propositions.
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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.