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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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