Munich Personal RePEc Archive

Value judgments and value neutrality in economics

Mongin, Philippe (2005): Value judgments and value neutrality in economics.

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Abstract

The paper analyzes economic evaluations by distinguishing evaluative statements from value judgments proper. Building on this basis, it compares four solutions to the value-neutrality problem in economics. After rebutting the strong theses about neutrality (normative economics is illegitimate) and non-neutrality (the social sciences are value-impregnated), the paper settles the case between the weak neutrality thesis (common in welfare economics) and a novel, weak non-neutrality thesis that extends the realm of normative economics more widely than the other weak thesis does.

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