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Positive economics
Introduction: This page is the main page for information about
positive economics. Positive economics is one of the most prominent theories
about what economic theory is all about. Two classic references on positive economics
are Milton Friedman [1953] and Fritz Machlup [1955]. Positive economics has
nothing to do per se with corporate governance. However, it is not difficult to
argue that much of what goes on in corporate governance research can be categorized
as positive economics. This is mainly because of the its preoccupation with
hypothesis production and hypothesis testing / verification.
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