The first thought that I have when considering how to describe the economy without using normative language is that all of the values that are commonly measured (i.e. GDP, unemployment, etc.) are chosen to be measured because they are proxies for things that people value.
In fact, the whole study of economics seems to me like the study of things people value and how they are distributed. If you choose proxies for value you’re having a profound effect on what gets measured (consider the recent discussions of statistical significance as a proxy for evidence) and if you try to list everything that everyone values you end up butting up against unsolved problems.
The first thought that I have when considering how to describe the economy without using normative language is that all of the values that are commonly measured (i.e. GDP, unemployment, etc.) are chosen to be measured because they are proxies for things that people value.
In fact, the whole study of economics seems to me like the study of things people value and how they are distributed. If you choose proxies for value you’re having a profound effect on what gets measured (consider the recent discussions of statistical significance as a proxy for evidence) and if you try to list everything that everyone values you end up butting up against unsolved problems.