Economics and ideology, historically and ontologically considered

Mário Graça and Francisco Nunes-Pereira

Cambridge Journal of Economics, 2025, vol. 49, issue 6, 1347-1363

Abstract: In this paper, we focus on the semantics and relevance of ideology in economics. Correctly conceived, we argue, ideology is a distinct, irreplaceable category, which should not be identified, for instance, with value judgements. We want to argue that a particular notion of ideology, formulated in Lawson (2012), should be preferred to its alternatives precisely because it does render ideology a distinct and irreplaceable category. Unlike Lawson (2012), though, we present the historical origins of this notion of ideology, the roots of which can be found in Marx and Schumpeter. Moreover, rather than focusing on Lawson’s (2012) main concern—how the persistent misuse of mathematics in economics is to be rationalised—we elaborate on his essential, albeit implicit, contribution: the indispensable role of ontology in distinguishing science and ideology.

Keywords: Ideology; History of Economic Thought; Ontology; Schumpeter; Tony Lawson (search for similar items in EconPapers)
Date: 2025
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