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I have arrived at the conviction that the neglect by economists to discuss seriously what is really the crucial problem of our time is due to a certain timidity about soiling their hands by going from purely scientific questions into value questions. This is a belief deliberately maintained by the other side because if they admitted that the issue is not a scientific question, they would have to admit that their science is antiquated and that, in academic circles, it occupies the position of astrology and not one that has any justification for serious consideration in scientific discussion. It seems to me that socialists today can preserve their position in academic economics merely by the pretense that the differences are entirely moral questions about which science cannot decide.

Friedrich Hayek#6

EconomicsScienceEthicsValuesAcademia

About this quote

What does it mean?
Economists avoid discussing value judgments because they fear appearing unscientific, but this allows opponents to frame debates as purely moral rather than scientific.
In plain terms
Economists shy away from value questions to seem scientific, but this lets others claim their work is outdated.
What can you take from it?
Engage with value questions to maintain scientific relevance.

Where it applies

  • academic debates
  • economic policy

Putting it to work

  • integrating ethics in economics
  • challenging pseudoscience

Questions to consider

  • Can science address value questions?
  • Why do economists avoid moral debates?

Another view

Some scientific fields genuinely avoid value judgments.

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