Purpose – The purpose of this paper is to hypothesise that business theory and education suffer from having been systematically de-philosophised over the last 200 years. Viewed through this lens the economistic narrative can be understood and new and integrated solutions to theoretical and pedagogical problems can be debated. Design/methodology/approach – This paper is a theoretical exploration based on a literature review and philosophical analysis. Findings – Going back to a social science philosophy would fundamentally affect how management is conceptualised, done and taught. The paper focuses on outlining the impact a re-philosophisation would have on management education. Practical implications – If one agrees that philosophy plays a too small role in management, it would change how scholarship is currently defined and how management education functions. Business schools would have to fundamentally change in every respect. Originality/value – Current criticism of the management mainstream focuses on either the political/ethical or the epistemic level. The paper argues that the epistemic and the ethical are connected and by making an integrated argument the debate can be re-energised and solution strategies become obvious. I am not aware of any other contribution making this argument. Ghoshal (unwittingly) used the same reasoning but without using the clear frame of reference (philosophy) that this paper proposes.