Join Senior Scholars Stephen Hicks, Ph.D., and Richard Salsman, Ph.D. for a philosophical discussion on the intersection of ethics and economics:
“For centuries, the ‘is-ought’ (or ‘fact-value’) dichotomy has been a perennial issue in philosophy (see Hume) and remains so today. Those who reject it and contend that morality can (and should!) be objective and fact-based are accused of committing ‘the naturalistic fallacy.’ In economics, the is-ought dichotomy takes the form of a supposed conflict between ‘positive’ and ‘normative’ economics. Even pro-capitalist Austrian economists say economics isn’t science unless it is ‘value-free.’ Is this valid? Is the argument about the ‘naturalistic fallacy’ itself fallacious? If the good isn’t to be grounded in nature (including human nature), then what or whence? Only the supernatural?”
The Atlas Society Presents - Objectively Speaking