THE ECONOMIC CRISIS VERSUS THE CRISIS OF ECONOMICS AS A SCIENCE

Abstract. The paper starts with arguments against forming causative links between crisis phenomena in the economy, both in its real and regulatory sphere, and the crisis of the economic science as such, in terms of its cognitive and predictive values. According to the author, it is also true with respect to the current economic-financial crisis. The second part of the paper is an attempt of explaining what should be considered a ‘normal ’ way of development of economic science. The author puts and justifies a thesis that this development is a journey of ideas being brought about by numerous causes, with a significant role played by inspirations related not to observation of the real world but to the ‘world of economists ’ (ideas shared by academic communities) and the phenomena appearing in the external environment of economics as a science: new political and social ideolo-gies, cultural and technological trends, as well as geopolitical changes. In the subsequent part of the paper, starting with the recognition of the so-called logical and historical factors in the development of economic science or, following the distinction made by D. Ross (2005), the distinc-tion of philosophical and historical-sociological strategies in this development, the author tries to prove that over the last half-century the development of economic science has been heavily influenced by the broadening acceptance of the criterion of instrumental effectiveness (Laudan–Mongin) in the appraisal of its scientific pro