Which economics do you speak?

? Positive or normative?

orthodox vs heterodox

  • fiat currency is a hoax
  • the law of supply and demand is affected by complex social factors. e.g. the recent increase in gas prices is partly due to speculations, and not just supply and demand.
  • The price of a commodity is determined by supply and demand so governments shouldn't intervene. (Price is the equilibrium point where the quantity of a good supplied by producers equals the quantity demanded by consumers.)

Positive vs. Normative :

  • “Government-provided healthcare increases public expenditures.”
  • “The government should provide basic healthcare to all citizens.”
  • The regulation of oil prices by the government helps to keep inflation in check.
  • The independence of the central bank from the government should be curtailed.
  • The development of Special Economic Zones is not working out.
  • Progressive taxation is better than regressive taxation.
  • Companies should be made to pay for the pollution they cause.

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H. Afridi

H. Afridi

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Interested in everything good under (and above) the sun. Seeker of truth. Entrepreneur. Health, environment & grassroots sports enthusiast. Productivity freak