Economics and ethics

The problem which allows the naming of economics and ethics had occurred when economics got the status of an independent science. With the separation of philosophy and science since 17th century in Europe thought, industrial capitalism and philosophy of liberalism laid the foundation of economics and ethics relationship's later orientation. The mentioned separation that actualized by lead of natural sciences, left an inheritance of methodological character to the economics which had its first systematic expression with Adam Smith's work Wealth of Nations. In the late of 19th century, while marginalist transformation was opening a wide progress way for economics in positive science borders, it also caused ethics to be pushed out of economics. Development of economics highly happened under neoclassical school's understanding of science, human being and ethics. Theory of economics, that progressed around the homo economicus character, confined the nature of individual in a narrow ethic frame; on the other hand, the belief of inefficiency of normative ethics had been theorized, and the homo economicus character had been idealized indirectly. The mentioned dominant paradigm, especially after 1980 when Keynesian economics view was fully erased, prepared a ground to development of a speculative financial economics which based on the idea of an almost absolute freedom. Today's financial market-based modern economy and the dominant doctrine in economics,consolidate each other's existence and threaten the humanity with great financial crises. In this respect, the conclusion presented by the work is that ethics' ability of finding efficiency space in economics compels a paradigmatic transformation. Keywords: Adam Smith, Scientific Method, Keynes, Marginalism, Neoclassical Economics.