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  • ISBN: 9780126990515
  • ISBN10: 0126990514

Public Finance a Normative Theory

by Richard W. Tresch

  • Binding: Hardcover
  • Edition: 2
  • Publisher: Academic Pr
  • Publish date: 04/01/2002
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Normative economics tends to be subjective, value laden, and emotional in its presentation. Normative economics is often referred to as "what ought to be" economics; it is "prescription" and/or policy oriented. In contrast, positive economics is "what is, what was, and what probably will be" economics. It studies and determines the probable outcomes from an increase or decrease in taxes and does not prescribe that taxes should be increased or decreased.
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