Abstract

This article offers a detailed presentation of the criticism by J.M. Ossipov on the discipline of economics, which, as he considers, is breaking off from its subject, and in connection with this, he advocates the return of the economic science back to its classical and philosophical foundations. A constructive criticism is made on the Ossipov's thesis, by giving proof of the necessity of synthesis between economics and political economy, resulting into theoretical economy. In it, in addition to the theory of utmost utility, the theory of utmost value must be elaborated, and each of the two must take an equivalent place in the economic science.