Iron Law Of Economics

Optimism sounds like a sales pitch. Pessimism sounds like someone trying to help you.

In finance, pessimism is paid more attention than optimism and is, therefore, more persuasive. “It’s easier to create a narrative around pessimism because the story pieces tend to be f...

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 econo...

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

C...