Pros and Cons of Positive Economics
Pros:
- based on objective data and fact are at our disposal to back up any claims
- there are no value judgments in positive economics which allows policymakers to formulate the appropriate measures necessary to tackle any economic conditions
Cons:
- not everyone is concerned with the facts and there are certain economic conditions that we can base on emotions; economics isn't an exact science, therfore there are no fool-proof solutions
- positive economics is not a one-size-fits-all approach. policies and solutions that arise from positive economics don't affect everyone the same way
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"Many people are in the dark when it comes to money, and I'm going to turn on the lights. " ~ Suze Orman
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