"The secret of science is not
to reach further away than but
rather to get the closest to." *
Current economic models diverted from the more comprehensive field of political economy. Elongation of the pendular movement that sought to emulate empirical approaches more akin to those in natural science and the “moral detachment” that characterised the rational-positivist reaction in an effort to distance itself from the late scholastics of the 14th to 17th centuries, despite the fact that under the influence of St. Thomas Aquinas, they had already developed a consistent monetary, interest, and value theory within a natural-law perspective.
In the struggle for applying “harder” physical science methodologies to a social discipline, absurd and self-contradiction arose: Economics receded from any kind of social aims to take sanctuary in its own scientific means, leading to a state of self-objectivization where purpose and scope are always being restricted to keep pace with structural methodological limitations.
Thus, economics has developed the most sophisticated mathematical tools of analysis, to arrive to the most obvious conclusions, if it arrives at all, because it remains undisclosed Why millions of economists worldwide didn't see it coming; the biggest recession in human history only second to The Great Depression.
Economics, "the study of how people seek to satisfy needs and wants" has to go back to basics and start all over again from the moral stance it discarded to talk with authority about the needs of a world where half of the population (3.5 billion) lives on less than $2.5 USD a day, the GDP of the 48 poorest countries (600 million) is less than the wealth of the seven richest people combined, and that one percent of what the world spends every year on guns (not in butter) would be enough to put every child into school.
_________________* From "Guerra a Vida", Aura Sofia Correa Garcia-Pena, 1987
