The Road Not Taken We all heterodox economists who have chosen the road ‘less traveled by’ know that this choice comes at a price. Fewer opportunities to secure ample research funding or positions at prestigious institutes or universities. Nevertheless, yours truly believes that very few of us regret our choices. One doesn’t bargain with one’s conscience. No amount of money or prestige in the world can replace the feeling of looking in the mirror and liking what one sees. My friend Axel Leijonhufvud (1933-2022) was such an academic who dared to choose a road ‘less traveled by’ among economists: The orthodox Keynesianism of the time did have a theoretical explanation for recessions and depressions. Proponents saw the economy as a self-regulating
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Lars Pålsson Syll considers the following as important: Economics
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The Road Not Taken
We all heterodox economists who have chosen the road ‘less traveled by’ know that this choice comes at a price. Fewer opportunities to secure ample research funding or positions at prestigious institutes or universities. Nevertheless, yours truly believes that very few of us regret our choices. One doesn’t bargain with one’s conscience. No amount of money or prestige in the world can replace the feeling of looking in the mirror and liking what one sees.
My friend Axel Leijonhufvud (1933-2022) was such an academic who dared to choose a road ‘less traveled by’ among economists: