The Positive and the Normative in Economic Thought

The book responds to the need for greater clarity regarding the relationship between descriptive, evaluative and prescriptive approaches within positive and normative economics, and analyses the entanglement between evaluative and prescriptive perspectives within various theoretical frameworks. It provides a forum for discussion between different schools of economic thought and theoretical frameworks on the study of facts, norms and values, with particular emphasis on classical political economy, Marxian school of economics, Frankfurt School, Austrian school, Chicago school, rational choice theory, expected utility theory, behavioral economics, experimental economics, development economics, welfare economics, public economics, constitutional political economy, the capability approach and politico-economic theories of justice.

Format: Paperback / softback
Length: 252 pages
Publication date: 29 January 2024
Publisher: Taylor & Francis Ltd

The book responds to the pressing need for greater clarity regarding the relationship between descriptive, evaluative, and prescriptive approaches within positive and normative economics. It delves into the intricate interplay between evaluative and prescriptive perspectives within various theoretical frameworks in normative economics, including social choice theory, the capability approach, behavioral welfare economics, and various theories of justice. By offering a platform for discussion between diverse schools of economic thought and numerous theoretical frameworks, the book specifically emphasizes the connection between the study of facts, norms, and values, with a particular focus on classical political economy, the Marxian school of economics, the Frankfurt School, the Austrian school, the Chicago school, rational choice theory, expected utility theory, behavioral economics, experimental economics, development economics, welfare economics, public economics, constitutional political economy, the capability approach, and politico-economic theories of justice. Given the broad range of topics addressed in this book, it holds significant appeal to economists, historians of economic thought, political philosophers, and philosophers of science, particularly those with an interest in the philosophy and epistemology of economics.

The book responds to the need for greater clarity regarding the relationship between descriptive, evaluative, and prescriptive approaches within positive and normative economics.

It delves into the intricate interplay between evaluative and prescriptive perspectives within various theoretical frameworks in normative economics, including social choice theory, the capability approach, behavioral welfare economics, and various theories of justice. By offering a platform for discussion between diverse schools of economic thought and numerous theoretical frameworks, the book specifically emphasizes the connection between the study of facts, norms, and values, with a particular focus on classical political economy, the Marxian school of economics, the Frankfurt School, the Austrian school, the Chicago school, rational choice theory, expected utility theory, behavioral economics, experimental economics, development economics, welfare economics, public economics, constitutional political economy, the capability approach, and politico-economic theories of justice.

Given the broad range of topics addressed in this book, it holds significant appeal to economists, historians of economic thought, political philosophers, and philosophers of science, particularly those with an interest in the philosophy and epistemology of economics.

Weight: 453g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032161563