Despite the conclusions from the contemporary philosophy of science, many economists cherish the ideal of positive science. Therefore, value-free economics is still the central paradigm in economics. The first aim of the paper is to investigate economics' axiomatic assumptions from an epistemological perspective. The critical analysis of the literature shows that the positive-normative dichotomy is exaggerated. Moreover, value-free economics is based on normative foundations that have a negative impact on individuals and society. The paper's second aim is to show that (...) economics' normativity is not a problem because the discussion concerning values is possible and unavoidable. In this context, Weber and other methodologists are investigated. The conclusion of the paper is that science can thrive without strict methodological rules thanks to institutional mechanisms. Therefore, economists could learn from artists who accept the world without absolute rules. This perspective opens the possibility for methodological pluralism and normative approaches. (shrink)

Well-being is becoming an increasingly popular issue in economics. The aim of the article is to present the concept of well-being and the methods of its measurement and to examine the statistical significance between the results obtained by specific indicators. The article was written based on the meta-analysis of the books and scientific papers on the subject, as well as well-being and welfare measurement reports. The study shows that there is a very wide range of theories and concepts related to (...) well-being which are sometimes exceptive. The most important conclusion from the study is that the correlation between welfare and well-being represented respectively by GDP and HDI is very strong, while the correlation between welfare and life satisfaction as well as well-being and subjective well-being are negligible. (shrink)