Positive economics is a fact-based analysis of what is occurring in an economy, without making prescriptions of what should or should not be happening.

Most of us hold that there’s a single, universal standard of truth. Yet we can all imagine situations in life in which there are multiple valid solutions to a specific problem. Think of a bridge that ...

One of the smartest Program Directors I ever consulted had a penchant for going beyond the logical point of conclusion. That is the thinking that if something works well and is greatly accepted, then ...