value judgement
value judgementAn opinion about the relative merits of two or more states of the economy, which cannot be empirically tested. For example, consider a proposed change which will affect A and B. Whether each gains or loses can be empirically tested, by asking whether they accept or reject the change, if the choice is left to them. Suppose the change benefits A but harms B. Whether or not it should be made then involves a value judgement, which cannot be empirically tested. The presence of value judgements is an essential component of normative economics, and their absence a characteristic of positive economics.
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