What really matter in the view of positive
economics is:
ü “what is”
ü or “the
matter of fact’
which is value free.
Thus, disregard any ethical or value loaded moral judgment
of ‘what ought to be’.
An is-statement is simply one that is either
materially true or false.
It asserts something about the state of the world,
that is such and such and not otherwise and we can employ interpersonally
testable methods to discover whether it is true or false
(Blaug,
1992, 113).
Shifted away from any ethical and moral judgments, positive
economic principle develop and widely accepted in the western world especially through
the concepts of rational economic man and laisez faire.
to be
continued...
Source: Islamic
Science University of Malaysia
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