Can ‘Religion’ Enrich ‘Economics’?

A. M. C. Waterman

Econ Journal Watch, 2014, vol. 11, issue 2, 233-242

Abstract: The knowledge (if any) afforded by Religion comes by the practice of faith, hope, and charity. It is direct, experiential knowledge of God. The knowledge (if any) afforded by Science comes by the method of ‘conjectures and refutations’ applied to our observations of Nature. Improved theory and better observation can falsify scientific knowledge, which is thus always tentative and provisional. Falsification is the criterion of scientific knowledge: it is objective and public, and accessible to all. But religious knowledge cannot be falsified in this way. It is certain and infallible for those who believe. This implies that whereas knowledge of Nature can corroborate the knowledge of God (the Creator of Nature), which comes by faith, religious knowledge—which fails the test of falsifiability—can be of no service to science. If economics generates any knowledge at all it is scientific, not religious knowledge. Therefore the knowledge that comes by faith can be of no service to economics.

Keywords: Religion; economics; faith; falsification; science (search for similar items in EconPapers)
JEL-codes: A12 A13 L26 Z12 Z13 (search for similar items in EconPapers)
Date: 2014
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