Adam Smith and the positive/normative dichotomy: A critical exploration of the debate within his writings
Year: 2024
Type: dissertation
Abstract: The present master’s thesis explores the usage of elements of the positive-normative debate in Economics in the works of Adam Smith. It seeks to assess whether his writings can be interpreted as fitting into the strict dichotomization that arose during the XXth century within the field, or if, on the contrary, they should be viewed as necessarily intertwining positive and normative elements. Being condemned as "unscientific" during the XIX century, with the emergence of the strict dichotomization in the XX century interpretations of Smith tended to follow the reasoning of the strict dichotomization, either highlighting an overarching positive goal across his writings, or a normative one. Drawing on Smith's lesser explored essay "The Principles which lead and direct Philosophical enquiries; as illustrated by The History of Astronomy" (1795), and his books of "The Theory of Moral Sentiments" (1759), and "An Inquiry into the Nature and Causes of the Wealth of Nations" (1776), the thesis argues that instead Smith consistently interconnected positive and normative elements. This is done through the employment of a historical and textual analysis. By revisiting Smith's works, the study contributes to ongoing discussions on the relationship between facts and values in economics while offering a different analysis lens on Smith.
Source: Repositório do ISCTE-IUL
Author: Gomes, Paulo Miguel Alexandre
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W7064068583