Normative Economics: Difference between revisions
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==Definition== | ==Definition== | ||
1) "...A body of systematized knowledge discussing criteria of what ought to be...; a system of rules for the attainment of a given end." [[Works Cited|[1]]] | 1) "...A body of systematized knowledge discussing criteria of what ought to be...; a system of rules for the attainment of a given end." [[Sources and Works Cited|[1]]] | ||
2) "Economics that tries to change the world by suggesting policies for increasing economic welfare..."[[Works Cited|[2]]] | 2) "Economics that tries to change the world by suggesting policies for increasing economic welfare..."[[Works Cited|[2]]] | ||
Revision as of 05:05, 1 May 2007
Definition
1) "...A body of systematized knowledge discussing criteria of what ought to be...; a system of rules for the attainment of a given end." [1]
2) "Economics that tries to change the world by suggesting policies for increasing economic welfare..."[2]
History
Famous Normative Economists
Figure 1: A graph of efficiency vs. fairness[3]
