Normative economics
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| - | In the [[applied sciences]], '''normative science''' is a type of information that is developed, presented, or interpreted based on an assumed, usually unstated, preference for a particular policy or class of policies. Regular or traditional [[science]] does not presuppose a [[policy]] preference, but normative science, by definition, does. Common examples of such policy preferences are arguments that pristine [[ecosystems]] are preferable to human altered ones, that native species are preferable to nonnative species, and that higher [[biodiversity]] is preferable to lower biodiversity. | + | '''Normative economics''' (as opposed to [[positive economics]]) is a part of [[economics]] that expresses [[value theory|value]] or [[norm (philosophy)|normative]] judgments about economic [[Equity (economics)|fairness]] or what the outcome of the economy or goals of [[public policy]] ''ought to be''. |
| - | In more general philosophical terms, normative science is a form of [[inquiry]], typically involving a community of inquiry and its accumulated body of provisional knowledge, that seeks to discover good ways of achieving recognized aims, ends, goals, objectives, or purposes. Many political debates revolve around arguments over which of the many "good ways" shall be selected. For example, when presented as scientific information, words such as [[ecosystem health]], [[biological integrity]], and [[environmental degradation]] are typically examples of normative science because they each presuppose a policy preference and are therefore a type of [[policy advocacy]]. | + | == See also == |
| - | ==See also== | + | * [[Distribution (economics)]] |
| - | * [[Fact–value distinction]] | + | * [[Is-ought problem]] |
| - | * [[Is–ought problem]] | + | * [[Justice (economics)]] |
| - | * [[Normative economics]] | + | * [[Normative science]] |
| - | * [[Normative ethics]] | + | * [[Positive economics]] |
| - | * [[Policy advocacy]] | + | * [[Social welfare function]] |
| - | * [[Truth]] | + | * [[Social choice theory]] |
| + | * [[Welfare economics]] | ||
| + | * [[Economic progressivism]] | ||
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Normative economics (as opposed to positive economics) is a part of economics that expresses value or normative judgments about economic fairness or what the outcome of the economy or goals of public policy ought to be.
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See also
- Distribution (economics)
- Is-ought problem
- Justice (economics)
- Normative science
- Positive economics
- Social welfare function
- Social choice theory
- Welfare economics
- Economic progressivism
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