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Prescriptive vs Descriptive Options
Dubai
Posted: Tuesday, April 10, 2018 4:46:10 AM

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Dear Colleagues.
May you kindly explain me the difference between prescriptive and descriptive in the following sentence.

Capitalism began as a theory about how the economy functions. It was both prescriptive and descriptive--it offered an account of how money worked and promoted the idea that investing profits in production leads to fast economic growth.



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Drag0nspeaker
Posted: Tuesday, April 10, 2018 5:19:12 AM

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Location: Livingston, Scotland, United Kingdom
It is 'expanded' in the later part of the sentence.

Descriptive --it offered an account of how money worked -- it described what money is, and how it worked.
(this has changed now - money used to be "a token representing a certain amount of gold stored at the bank". Now it is "a token representing how much debt the bank has with the Central Banks")

Prescriptive -- it promoted the idea that investing profits in production leads to fast economic growth -- it prescribed that one should invest in production.


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BobShilling
Posted: Tuesday, April 10, 2018 4:49:42 PM
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Location: Beroun, Stredocesky, Czech Republic
Dubai wrote:
Capitalism began as a theory about how the economy functions. It was both prescriptive and descriptive--it offered an account of how money worked and promoted the idea that investing profits in production leads to fast economic growth.


It would have been better to write 'descriptive and prescriptive' as that is the order of the explanations.
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