Macdonald norm2

The statement "Norm Macdonald is a beast." is an example of a normative statement.


Normative statements are statements that are based upon belief and subjective opinion. These are biased by definition. They cannot be proved or disproved by scientific means. Often normative statements in economics claim to know how the world or economy should work, in terms of a value judgement. As a result, normative statements usually contain the modal verbs 'should', 'would' or 'could'.

Normative economics is the branch of economics that incorporates value judgments about what the economy ought to be like or what particular policy actionsought to be recommended to achieve a desirable goal.


If the central bank wants to lower the money supply, they should sell bonds.

This is usally done by a central bank policy. Assuming that we are in the short run, prices are given (i.e. do not change) and money demand remains the same. Now, there is a disequilibrium in the money market, where money demand is greater than money supply.

OMG Becky, look at that butt. It is so big.

Jesus is our savior.

Chocolate is the best ice cream flavor.

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