The Lost Philosophy of Economics: A Tale of Surrender from Thought to Ideology, from Method to Dogma, and toward Interdisciplinary Imperialism

This article examines, from a historical and critical perspective, how modern economics has gradually distanced itself from its philosophical and social foundations and evolved into an increasingly technical and instrumental field of knowledge. By privileging positivist methodology, mathematical formalization, and abstract modelling, the neoclassical approach has detached economics from its historical, ethical, and class-based contexts, reshaping it into a discipline that appears neutral while, in practice, reproducing capitalist relations of production within an ideological framework. This transformation became institutionalized, particularly under the influence of American academic dominance after 1945, shaping not only theoretical orientations but also the content and methods of economics education. As a result, the discipline moved toward a structure that marginalizes pluralism, prioritizes mathematical standardization, and constrains critical inquiry. The article traces this process through the consolidation of the neoclassical–Keynesian synthesis, the rise of general equilibrium theory and econometrics, and the expansion of economics into other social sciences. This expansion—often described as disciplinary imperialism—is examined in relation to the narrowing of the discipline’s intellectual horizon and its role in reproducing neoliberal consent. In conclusion, the study argues that strengthening heterodox approaches, supporting methodological pluralism, and re-centering historically informed critical perspectives are essential for restoring the social responsibility of economics.