ABSTRACT

This chapter argues that the traditional distinction between economics and utopia are both a misconception and a deception. The metaphysical proposition has been effectively challenged through an exploration of the utopian dimensions of three interrelated aspects of modern economics. The first considers the context of the marketplace, which tends inexorably towards equilibrium. The second aspect of the subject's utopian leaning is its image of people and their relationship. Finally, the language used by economists reflects an interjection of 'non-scientific' perspectives into economic analysis. The chapter contributes to clearing the way for a more open dialogue between different methods or languages of understanding in the theory and practice of economics. Modern economics presents itself as an impersonal, objective reflection of the world. Modern economics, whether the elegant version of perfect competition or its more complex derivatives, carries within it most 'unscientific' methods in that it incorporates personal and group ideals.