<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The presented paper refers to values as the timeless foundations of modern economics, and also to ethical limitations in the sphere of economic research, especially in the mainstream. The character of the paper is a review. The aim of the research is an attempt to show the fundamental importance of values, often rooted in history, for the development of modern economics and to present a remedy for the current analytical problems of economic sciences – considering the importance of axiology in economic research. The paper is divided into three main parts: introduction – theoretical considerations on the basis of the humanistic perspective of economics; first chapter – the place of values in philosophical and economic considerations, and second chapter – axiology as a complement to the gap in economic research (response to the crisis in the field of economic research). The authors proved that in the face of great crises, including the last one, which is the coronavirus crisis, there is an urgent need to extend economic analysis with values, which would make the science of economics more mature, perceiving an individual as an entity guided by a whole spectrum of principles. It is therefore necessary to go beyond the canon of rigid thinking, because otherwise we are threatened not only with the collapse of the economy, but the entire civilisation of the West. In this regard, let us provide a wider field for ethical analysis!</p>
</abstract>

The presented paper refers to values as the timeless foundations of modern economics, and also to ethical limitations in the sphere of economic research, especially in the mainstream. The character of the paper is a review. The aim of the research is an attempt to show the fundamental importance of values, often rooted in history, for the development of modern economics and to present a remedy for the current analytical problems of economic sciences – considering the importance of axiology in economic research. The paper is divided into three main parts: introduction – theoretical considerations on the basis of the humanistic perspective of economics; first chapter – the place of values in philosophical and economic considerations, and second chapter – axiology as a complement to the gap in economic research (response to the crisis in the field of economic research). The authors proved that in the face of great crises, including the last one, which is the coronavirus crisis, there is an urgent need to extend economic analysis with values, which would make the science of economics more mature, perceiving an individual as an entity guided by a whole spectrum of principles. It is therefore necessary to go beyond the canon of rigid thinking, because otherwise we are threatened not only with the collapse of the economy, but the entire civilisation of the West. In this regard, let us provide a wider field for ethical analysis!

Values as Timeless Foundations of Today’s Economy – A Remedy for a Crisis in Economic Sciences

Studies in Logic, Grammar and Rhetoric

This work is licensed under the Creative Commons Attribution 4.0 International License.

The presented paper refers to values as the timeless foundations of modern economics, and also to ethical limitations in the sphere of economic research,...

Values as Timeless Foundations of Today’s Economy – A Remedy for a Crisis in Economic Sciences

Published Online: Dec 30, 2021

Page range: 389 - 407

DOI: https://doi.org/10.2478/slgr-2021-0022

Keywords
economy, values, crisis, axiology

© 2021 Aneta Kargol-Wasiluk et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Values as Timeless Foundations of Today’s Economy – A Remedy for a Crisis in Economic Sciences

Published Online: Dec 30, 2021

Page range: 389 - 407

DOI: https://doi.org/10.2478/slgr-2021-0022

Keywordseconomy, values, crisis, axiology

© 2021 Aneta Kargol-Wasiluk et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
economy, values, crisis, axiology