Normative foundations of scarcity

Asad Zaman

MPRA Paper from University Library of Munich, Germany

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; Normative Positive Distinction; Fact Value Distinction; private property; welfare; revealed preference (search for similar items in EconPapers)
JEL-codes: B41 (search for similar items in EconPapers)
Date: 2010-03
New Economics Papers: this item is included in nep-hpe
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