ABSTRACT
What may we conclude from the contributions in this book? In our introductory chapter, we suggested that the value of economic analysis as a contribution to our understanding of the way in which resources are allocated (positive economics) or should be allocated (normative economics) rested, first, in rightly interpreting the goals which economic agents sought to achieve: second, on the choice of assumptions underlying any explanation of their behaviour: third, on correctly identifying the explanatory variables and the value attached to them: and, fourth, on the logical consistency of the argument contained in the analysis.
