The Economic Philosophy: A Missing Approach

Questions such as: What is economics? Is it a science? What are its boundaries and fields? What is the nature of economic value? Is it objective or subjective, and how is it measured and evaluated? What is the relationship between the individual and society in economics? Is the priority given to individuals or to society as a whole? What tools and models do economists use, and are these tools accurate and objective? What ethical values should guide economic decisions? Should the main goal be to achieve the highest economic efficiency, or should fairness and equitable wealth distribution be considered? What is the relationship between economics and politics, and can economics be separated from the political and cultural context?

The Importance of Studying Economic Philosophy:

• Deeper Understanding of Economics: Economic philosophy helps in understanding the theoretical foundations of economics, evaluating different economic theories, and discovering their strengths and weaknesses.
• Making Better Economic Decisions: Economic philosophy aids in making informed economic decisions by providing the tools and perspectives necessary to assess the economic and social impacts of various policies.
• Building a Fairer Society: Economic philosophy helps to think about how to build a more just and equitable economic society by evaluating the ethical values that should guide economic decisions.

Areas of Interest in Economic Philosophy:

• Epistemology of Economics: Studying how economic knowledge is acquired and how its validity is verified.
• Methodology of Economics: Studying the methods and techniques used by economists in research and study.
• Ethical Values in Economics: Examining the relationship between economics and ethics and assessing the ethical impacts of economic policies.
• Economic Justice: Studying the different concepts of economic justice and how to achieve it.
• Economics and Happiness: Studying the relationship between economic growth and happiness, and whether an increase in national income necessarily leads to an increase in happiness.

In short, economic philosophy is an ongoing dialogue between theory and practice, between philosophy and economics, and between values and numbers. It is a vibrant and dynamic field that provides us with valuable tools to understand the contemporary world and make informed decisions.

The Need for Economic Philosophy:

There is an urgent need to study economic philosophy for several reasons:

• Deeper Understanding of Economics: Economic philosophy goes beyond numbers and statistics; it delves into fundamental questions about the nature of economics, how to evaluate different economic systems, and the ethical values that should guide economic decisions. This deeper understanding helps us grasp how economic systems work and how they impact our daily lives.
• Making Better Decisions: Economics is not just about numbers and equations; it involves values and ethics. Economic philosophy helps us think critically about economic issues and make informed decisions that consider not only economic aspects but also social and ethical dimensions.
• Building a Fairer Society: Economic philosophy helps us think about how to build a more just and equitable economic society. It prompts us to question the fair distribution of wealth, workers’ rights, and corporate social responsibility.
• Addressing Contemporary Challenges: We face complex economic challenges today, such as climate change, economic inequality, and unemployment. Economic philosophy provides us with the tools and perspectives needed to understand these challenges and search for innovative solutions.

Moreover, economic philosophy is not limited to academics and researchers; it is essential for anyone who wants to understand the world around them and make informed decisions that affect their lives and the lives of their community. For policymakers, business leaders, and even ordinary citizens, economic philosophy can help us move beyond traditional economic theories and think more creatively about the future. There are many subfields of economic philosophy, such as the philosophy of economic ethics, the philosophy of economic justice, and the philosophy of environmental economics.

Economic Philosophy in Syria:

Applying the concepts of economic philosophy in a specific Syrian context requires a careful study of the local conditions and the specific challenges facing the country. However, some general points can be identified where this philosophy can be beneficial:

• Formulating More Just and Sustainable Economic Policies: Economic philosophy can help formulate economic policies that consider not only economic growth but also fair wealth distribution, environmental protection, and sustainable development.
• Building Strong Economic Institutions: Economic philosophy can help build strong and transparent economic institutions capable of managing resources efficiently and achieving sustainable economic growth.
• Promoting Transparency and Accountability: Economic philosophy can encourage the promotion of transparency and accountability in both the public and private sectors, contributing to combating corruption and improving economic performance.
• Supporting the Private Sector: Economic philosophy can help support the private sector and encourage entrepreneurship and innovation, contributing to the creation of new job opportunities and achieving economic growth.
• Developing Human Capital: Economic philosophy can help develop human capital by focusing on education and training, thereby increasing productivity and improving quality of life.

To apply these concepts in the Syrian reality, the following steps can be taken:

1. Study the Syrian Economy: Conduct a comprehensive study of the economic situation in Syria, identifying the main strengths, weaknesses, and challenges.
2. Develop a Long-term Economic Vision: Formulate a clear and ambitious economic vision for Syria, outlining the strategic goals it aims to achieve.
3. Build National Consensus: Work on building national consensus around the economic vision and garnering support from various social and political groups.
4. Set Specific Action Plans: Develop detailed action plans to implement the economic vision and define indicators to measure progress.
5. Evaluate and Adjust Policies: Conduct regular evaluations of economic policies and adjust them as needed to achieve the desired goals.

It is essential to emphasize that implementing economic philosophy requires close cooperation between policymakers, economic experts, academics, and civil society. The above offers an overview of how to benefit from economic philosophy in a Syrian context, but it should be noted that the situation in Syria is complex and ever-changing, and applying any economic solutions requires a careful study of local conditions.

In light of the conditions Syria is going through, how can economic philosophy be established to contribute to growth and reform?

• Raising Awareness:

1. Education: Basic economic and economic philosophy concepts should be included in school and university curricula to educate future generations on the importance of these concepts in building a better future.
2. Media: Various media outlets, whether print or electronic, can play an important role in spreading economic awareness through educational programs and analytical articles.
3. Seminars and Conferences: Organize seminars and conferences on economic philosophy and its impact on development, with the participation of experts and economists. This is what we aim to establish in the Economic Office of the Syrian Future Movement in the coming phase.

• Building Institutions:

1. Research Centers: Establish specialized research centers to study economic issues in Syria and provide recommendations to decision-makers.
2. Professional Associations: Support and develop professional economic associations to enhance communication between experts and professionals in this field.

• Engaging the Private Sector:

1. Encouraging Investment: Create an attractive environment for investment and provide incentives to investors, whether local or foreign.
2. Supporting Small and Medium Enterprises: Provide financial and technical support to small and medium enterprises as they are the primary engine of economic growth and job creation.

• Developing Competencies:

1. Training Programs: Organize intensive training programs for government employees and business leaders to develop their skills in economics and business management.
2. Scholarships: Support scholarships for outstanding students in the field of economics so they can achieve the highest academic degrees.

• Building International Partnerships:

1. Cooperation with International Organizations: Collaborate with international organizations such as the World Bank and the International Monetary Fund to obtain technical and financial support.
2. Exchanging Expertise: Exchange experiences with other countries that have successfully implemented successful economic policies.

• Engaging Civil Society:

1. Participating in Decision-making: Involve civil society organizations in the economic decision-making process and listen to their views and suggestions.

Challenges Facing the Application of Economic Philosophy in Syria:

• Economic Crisis: Syria is experiencing a severe economic crisis, making it difficult to implement any economic reforms.
• Widespread Corruption: Corruption weakens trust in government institutions and negatively affects investment.
• Ongoing Armed Conflict: The ongoing armed conflict destroys infrastructure and threatens economic stability.

In Conclusion:

Establishing economic philosophy in Syria is a long and complex process that requires the concerted efforts of all concerned parties, whether governmental, private, or civil society. Through proper planning and continuous work, Syria can build a strong and civil economy that ensures prosperity and stability for its people, both now and in the future.

Therefore, we at the Economic Office of the Syrian Future Movement recommend changing the current economic thinking to delve into reading the economic reality with a modern philosophical perspective, starting from the given conditions to weave practical and beneficial plans for the present and future.

All regions under various de facto authorities in Syria are witnessing a lack of economic methodology, which causes the absence of any scientific solutions. Perhaps giving importance to economics from a philosophical standpoint is the key to lifting the current economic decline, as the beginning of any reform starts with the approach and methodology of thinking, which has advanced significantly with economic philosophy, now a discipline with its theorists, schools, and a specialization that is completely absent from us.

Enas Nasr Al-Din
Economic Office
Research and Studies Department
Articles
Syrian Future Movement (SFM)