Orthodox economics presents itself as a science, yet it systematically fails to distinguish economic success from economic self-consumption. Gross domestic product, profit maximization, and monetary growth routinely rise alongside deteriorating public health, ecological depletion, institutional fragility, and declining life resilience. This paper argues that these failures are not empirical anomalies or regulatory lapses, but the predictable outcome of a foundational error: economics has optimized a symbolic proxy — money — rather than the life-support conditions it depends upon.
Drawing on John McMurtry’s Life-Value Onto-Axiology (LVOA), this paper reconstructs economics as a life-grounded science. It introduces a universal axiom of value based on the expansion or contraction of life-range (thought, felt being, and action), identifies universal human life necessities as the true economic state variables, redefines development as secure access to life goods, distinguishes life capital from false capital, and redefines efficiency in ecological, physical, and human-development terms. The civil commons are formally restored as core economic infrastructure rather than residual public expenditure.
The paper demonstrates why orthodox economics systematically misclassifies capital, underestimates systemic risk, and selects for life-capital depletion, and it provides a mathematically coherent diagnostic and therapeutic framework for banking, finance, regulation, and public policy. The result is not an ideological alternative to economics, but its scientific completion.










