Philosophy Q&A Essays
The study of economics does a good job of identifying the difference between positive statements and normative statements, and there are economic schools of thought that have very strong normative views. Macroeconomics, or the study of economic systems as a whole, takes a particularly broad view of how people place value on scarce resources and find ways of meeting the greatest number of people’s needs. Macroeconomic theorists frequently involve elements of philosophy in their analysis. In many ways, I feel like economics can be thought of as an outward expression of inward philosophical views. You can learn a lot about what a society values by looking at how their economy functions.
The economic point of view is an improvement upon a purely practical point of view in that it recognizes more than just the here and now. It recognizes practical constraints, but it also acknowledges that there are deeper, more important aspects to life. It is formed much more deliberately and based more on reason. However, it diminishes the importance of things that may be important, but don’t provide measurable utility. This type of economic