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The Myth of Objectivity in Positive Economics

In: Economics: An Anti-Text

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  • Francis Green

Abstract

Opening chapters of economic textbooks are as often as not considered a boring preliminary to be endured or, if possible, avoided before the ‘real thing’ — economics proper — gets under way. This is because the methodology of the subject does not become interesting until something is known of the subject itself — in this case, economics. While methodology does not play an important part in most economics courses, it is usually considered important that students are aware of the distinction between positive and normative statements, and that they absorb something of the idea that economics is scientific (and, therefore, in some sense, true). More particularly, it is stated that orthodox economic theory is neutral, that it is independent of the values of the persons who espouse it and who practise its principles. It is the purpose of this opening chapter to dispel this myth, and to show how orthodox economics can be, and is, infused with ideology.

Suggested Citation

  • Francis Green, 1977. "The Myth of Objectivity in Positive Economics," Palgrave Macmillan Books, in: Francis Green & Petter Nore (ed.), Economics: An Anti-Text, chapter 0, pages 3-20, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-15751-8_1
    DOI: 10.1007/978-1-349-15751-8_1
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