The Methodology of Positive Economics
Book • 1953
In 'The Methodology of Positive Economics,' Milton Friedman outlines his views on economic methodology, emphasizing the importance of positive economics as a predictive science independent of ethical considerations.
He argues that the success of economic theories should be evaluated based on their predictive power rather than the realism of their assumptions.
This essay is a foundational work in the philosophy of economics, influencing how economists approach theory and policy.
He argues that the success of economic theories should be evaluated based on their predictive power rather than the realism of their assumptions.
This essay is a foundational work in the philosophy of economics, influencing how economists approach theory and policy.
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Russ Roberts and Don Boudreaux in relation to his methodological article on utility maximization and its limitations.
Russ Roberts and Don Boudreaux in relation to his methodological article on utility maximization and its limitations.
Don Boudreaux on Buchanan
