Institutions and Norms in Economic Development

(4.5/5) - 315 ratings
Authors: Mark Gradstein, Kai A. Konrad
Publisher: MIT Press
Genre: Economy
Pages: 251
Language: english
Year: 2006
ISBN 10: Unknown
ISBN 13: 9781429480628
Series: CESifo seminar series
Edition: Unknown
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Synopsis

Until recently economics professors taught their beginning students that in the process of building economic theories economists make two distinct statements: positive and normative statements. Positive statements are testable statements of fact; they are scientific, and therefore, well, constitute "good...