Suppose that Darnell, an economist from an AM talk radio program, and Eleanor, a

Question

Suppose that Darnell, an economist from an AM talk radio program, and Eleanor, an economist from a school of industrial relations, are anguing over government bailouts. The following dialogue shows an except from their debate: Thanks to recent financial crises, the concept of bailouts is a hot topic for debate among every one these days. Indeed, it's gotten crazy! A government bailout of severely distressed financial firms is unnecessary because free markets will properly price assets. I don't know about that. Without a bailkout of severely distressed financial firms, the economy will experience a deep recession. The disagreement between these economists is most likely due to Despite their differences, with which proposition are two economises Business managers can raise profit more easily by reduce Central banks should focus more on maintaining low Employers should not be restricted from outsourcing work to foreign nations.

Explanation / Answer

Difference in Values

It's a example of Normative Economics.

Normative economics expresses value about economic fairness or what the outcome of the economy or goals of public policy ought to be depending upon the values and perception of the economist itself and is not necessarily backed up by firm facts.

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