The Normative Foundations of Scarcity

Real-World Economics Review, issue no. 61, 26 September 2012, pp. 22-39

21 Pages Posted: 18 Feb 2010 Last revised: 25 Aug 2018

Date Written: June 1, 2012

Abstract

The elevation of scarcity to the fundamental economic problem rests on some unstated normative assumptions. These include a political commitment to private property, a methodological commitment to not inquire about taste formation, and the idea that human welfare is roughly equivalent to preference satisfaction

Keywords: scarcity, logical positivism, methodology, normative positive distinction, fact value distinction

JEL Classification: B41

Suggested Citation

Zaman, Asad, The Normative Foundations of Scarcity (June 1, 2012). Real-World Economics Review, issue no. 61, 26 September 2012, pp. 22-39, Available at SSRN: https://ssrn.com/abstract=1554202 or http://dx.doi.org/10.2139/ssrn.1554202

Asad Zaman (Contact Author)

PIDE ( email )

Quaid-i-Azam University Campus
P.O.Box 1091
Islamabad, Federal Capital 44000
Pakistan

Al-Nafi ( email )

64 Fullerton Crecent
Markham, Ontario L35 3G5
Canada

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