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Conclusion: Towards a New Economic Science

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The Economy of Recognition

Part of the book series: Ethical Economy ((SEEP,volume 42))

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Abstract

The conclusion of the book is mainly epistemological. It presents Rosmini’s description of the problems of fragmentation, excess of abstraction, rationalist reductionism and utilitarianism as typical of modern sciences that should also be taken into account when analyzing the problems of economic science. Besides, as it is shown throughout the book, the conclusion presents the two risks of isolating economics, mainly due to the obsession with the creation and accumulation of wealth, but also of wrongly integrating it with ethics and with ‘eudemonological’ sciences. Besides, the conclusion stresses the importance of Rosmini’s epistemological distinctions in order to differentiate economics from ethics in a proper way, subordinating the former to the latter but, at the same time, allowing their mutual influence. Finally, the conclusion shows the importance of the empirical and practical dimension, as well as the need for a higher wisdom in order to build a non-rationalist, realist and personalist economic science.

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Notes

  1. 1.

    Rosmini uses the word “industry,” but he does so in the broad sense of the word which allows us, in our criterion, to understand it as “economy.”

  2. 2.

    “Another reason why moral, eudaimonological philosophical teachings (for example those concerned with the common end of societies) are excluded from political treatises is the self-imposed duty of many authors to follow abstract methods. As a result, what ought to be strictly unified is divided into different treatises (…)” (Rosmini 1994b, 88).

  3. 3.

    Rosmini considers that “to follow a particular or general method depends on the nature of the objects.” (Rosmini 1923, 105).

References

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© 2013 Springer Science+Business Media Dordrecht.

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Hoevel, C. (2013). Conclusion: Towards a New Economic Science. In: The Economy of Recognition. Ethical Economy, vol 42. Springer, Dordrecht. https://doi.org/10.1007/978-94-007-6058-5_12

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