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Posted by / 25-Jan-2015 10:10

And have airline companies become more effective in price discrimination and strategic behavior due to their increased understanding of industrial organization?Arguments and anecdotes related to these and other questions will hopefully shed a light on how positive our economic findings change our normative view of the world.Press on the Next button to go from one webcam chat room to another.

In fact, with its axiomatic and mathematically rigorous character, economics tends to aspire to the pure scientific method and seek a similarly removed status as disciplines like physics or chemistry.Yet, there is something about economics that makes this impossible: as a social science, its findings can alter the very subject of its inquiry, and thereby even what is not can become the way economics describes it.Do nations devalue their currency to boost exports because of their increased understanding of foreign exchange mechanisms?Do we estimate our earnings prospects and adjust savings and borrowing in an effort to smooth consumption because we understand this to be optimal behavior?Economics is usually presented as a positive science.

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