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By Chomsky Noam

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Second, when economists use the term efficiency there is no necessary judgment involved in the term. It could, in fact, be used as a term of value-judgment if we impart normative weight to ends (such as wealth-maximizing), but there is no necessary reason to take this step. All 22 Calculation and Coordination efficiency refers to is the relationship between means chosen and desired ends. Both the sinner and the saint want to be efficient in this sense. The criticism of economics, that it tries to substitute efficiency as the ultimate moral judgment, is, in this sense, simply misplaced.

Science does not need a single Methodology12 to insure its progress, but rather, honest practitioners willing to submit to the critical dialog of their peers and refrain from cheating and other assorted shortcuts (see McCloskey 1985, pp. 20–53). In other works, science, as Michael Polanyi often stressed, is nothing more than a set of shared values within a community which are accreditated in the process of the search for truth. The problem of ideology for the scientific enterprise is only a problem when the values of a political and ideological doctrine are exalted above the values which guide the scientific process.

Kelley. Boulding, K. ” History of Political Economy 3 (Fall): 225–37. M. (1987) “The Constitution of Economic Policy,” American Economic Review 77 (June): 748–50. M. (1992) Better Than Plowing, and Other Personal Essays, Chicago: University of Chicago Press. Bukharin, N. Kelley. Sharpe, Selected Writings on the State and the Transition to Socialism, Armonk, NY, pp. 183–208. J. (1982) Beyond Positivism, London: George Allen & Unwin. ) (1990) Carl Menger and His Legacy in Economics, Durham, NC: Duke University Press.

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