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The book responds to the need for greater clarity regarding the relationship between descriptive, evaluative and prescriptive approaches within positive and normative economics.
"Debate about the relationship between positive and normative economics has been ongoing since the origin of the discipline. This volume offers an impressive collection of historical and philosophical research on this relationship. The chapters are wide-ranging, original, and well-researched. It is a significant contribution to the literature."
D. Wade Hands,University of Puget Sound.
Chapter 1. The Positive and the Normative in Economic Thought: A Historical-Analytic Appraisal Section I. The Positive and the Normative in the History of Economic Thought Chapter 2. The Positive-Normative Distinction in the Classical Economic Methodology Chapter 3. Descriptions, Prescriptions and Norms: The Tripartite Classification of Economics by John Neville Keynes Chapter 4. Normative Economics and its Enemies: Marx, Mises and Friedman Section II. The Positive and the Normative in Contemporary Economic Thought Chapter 5. Economics as a Normative Discipline: Value Disentanglement in an ‘Objective’ Economics Chapter 6. Realism and Deliberation in Normative Economics: The Fruitful Intellectual Dialogue between James Buchanan and John Rawls Chapter 7. Normative Economics and Public Reason: Who Are the Addressees Chapter 8. Reconciling Normative and Behavioural Economics: The Problem That Cannot Be Solved Chapter 9. The Unacknowledged Normative Content of Randomised Control Trials in Economics and Its Dangers Section III. The Positive and the Normative in Economics: Philosophical PerspectivesChapter 10. The Positive, the Normative and the Marxian Heritage in the Early Frankfurt School Chapter 11. Economics as Value-Laden Science: Lessons from the Philosophy of Science on the Normative/Positive Distinctions and Rational Choice Theory Chapter 12. The Positive, the Normative and the Ontology of Social Problems