Milton Friedman, in his essay ‘The Methodology of Positive Economics’, states that positive economics is in principle independent of any particular ethical or normative judgements, and he further argues that economics is an objective science in the same way as the natural sciences. School economics has been taught in this way for a number of decades. This article argues for values in economics education and explains how school economics has been based on the discredited philosophy of positivism which is in contrast to social-constructivist understandings of knowledge. After two decades of falling numbers of students taking up economics at Advanced level in England, 2010 saw a rise of students sitting examinations in the subject. A possible explanation is students' desire to understand a fast-changing economic landscape. Teachers have the opportunity to challenge previously held assumptions and to critically explore explanations in a way that is of relevance to students' lives.
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