By Godel's incompleteness theorem it is impossible to prove consistency of the current widely accepted foundation of mathematics ZFC within ZFC. But this theorem says nothing about existence or non-existence of a possible formal proof for inconsistency of ZFC within ZFC that means it is possible that some day set theorists or other working mathematicians find an inconsistency between two mathematical theorems.
My first question is about any possible option which could be chosen by set theorists, logicians and mathematicians in this imaginary situation.
Another question is about possible impacts of discovering an inconsistency in mathematics on philosophy of mathematics and some fields of human knowledge like theoretical physics which use mathematics extensively.
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It seems weakening the current axiomatic foundation of mathematics in any sense (including removing a particular axiom or moving to another weaker axiomatic system) causes an expected problem. In fact avoiding the contradiction by means of weakening our axiomatic system (which seems the only accessible choice) sends some accepted parts of current mathematics into the realm of "non-mathematics". Thus in this case we need to choose between different parts of mathematics that which one is good and useful and which one is not. This could be the matter of many discussions. For example if the Axiom of Choice (AC) is a part of that contradiction then by removing it from the foundation we will lose many useful tools of mathematics including many essential theorems like "Every vector space has a basis" that harms linear algebra extensively.
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