In the philosophy of economics, a descriptive or positive statement is an assertion about facts of the world, while prescriptive or normative statements express value judgments. The former describe the world as it is, while the latter talk about the world as it should be.[1] The methodological basis for positive/normative distinction is rooted in the fact-value distinction in philosophy.
Economics is often divided into positive and normative economics. Positive economics focuses on the description, quantification and explanation of economic phenomena.[2] Normative statements about economics often take the form of discussions about fairness and what the outcome of the economy or goals of public policy ought to be,[3] as well as prescriptions regarding rational choice, as studied in decision theory.