Scientism is not only a false extension (inappropriately) into a field of study (as described by Fredrick Hayek in his 1952 Counter-Revolution of Science and reprinted in volume 13 of the Collected Works) but it is also even and again more subtle in its exclusion of appropriate science into its midst! Hence, for example, we see entrenchment and stubborn resistance towards subjectivism in the human sciences. I would venture to say that an even greater harm is done (and it is even done by those who recognize subjectivism) by claiming a false separation between ethics and economics. It is a ‘scientism-like’ attitude towards the new scientific advancements that clearly demonstrate that ethics and economics cannot be separated. What you get when they are separated is the mess that we see all around us – unabashed interventionism by the ego-driven.
The present-day economic problems cannot be resolved without using a scientific method that recognizes the inseparability of ethics and economics!
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