"The Methodology of Positive Economics" by Milton Friedman (1953)
Автор: Economics Classroom
Загружено: 2025-10-29
Просмотров: 49
Описание: Milton Friedman's seminal 1953 essay, "The Methodology of Positive Economics," establishes economics as a positive science concerned with "what is," whose ultimate goal is developing theories that yield valid and meaningful predictions about economic phenomena. Friedman sharply distinguishes positive analysis from normative economics ("what ought to be"), arguing that its performance must be judged solely by the conformity of its predictions with experience. Critically, Friedman dismisses the widespread notion that a theory can be tested by the descriptive "realism" of its assumptions, contending that truly significant hypotheses necessarily employ assumptions that are highly abstract and often "wildly inaccurate" representations of reality, such as the idea that firms behave as if they rationally maximize returns. This influential work stresses that policy consensus depends less on philosophical agreement and more on the progress of positive economics to resolve differences concerning the predicted consequences of action.
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