History of Positive Economics - Deepstash

History of Positive Economics

History of Positive Economics

History of Positive Economics

The history of positive economics can be traced back to the 19th century from the ideas of John Neville Keynes and John Stuart Mill, who were early economists. 

Keynes believed that logic and methodology were imperative in the study of economics while Mill was an economist who blended economics with philosophy. Mill also approached economics from data, such as the relationship between supply and demand, rather than the value perspective approach.

Later on, these ideas were adapted by contemporary economists and developed observations to back early economic theories.

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