The Epistemological Drift of Economics: Mathematization, Depoliticization, and Democratic Crisis from a Paolo Sylos Labini Perspective

Francesco Sylos Labini
“The Epistemological Drift of Economics: Mathematization, Depoliticization, and Democratic Crisis from a Paolo Sylos Labini Perspective”
Review of Political Economy, 1–15. (2026) https://doi.org/10.1080/09538259.2026.2724133

Over recent decades, economics has moved away from its origins as an ethical–political discipline grounded in historical and social analysis. Increasing mathematization, rather than enhancing scientific rigor, has stripped economics of its historical, legal, and social dimensions, promoting a technocratic and depoliticized outlook. Central to this shift is the assumption of stable equilibrium, which effectively removes historical and dynamical time from economic analysis. While presented as neutral and objective, mainstream economics often conceals ideological choices behind a formalism lacking genuine falsifiability. This drift has legitimized austerity, deregulation, and privatization, weakening democratic sovereignty — — particularly in Europe — and widening the gap between technocratic governance and citizens. The erosion of conflict as a driver of deliberative democracy is its most serious consequence. Restoring economics’ historical and political dimension is essential for a substantive and inclusive democracy.