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Frederic S. Lee — Challenging the dominance and anti-intellectual behavior of mainstream economics

Summary:
[H]eterodox economists need to be more active in challenging the dominance and anti-intellectual behavior of mainstream economics and economists. Not being respectable, standing up and just saying NO, pursuing heterodox research, and working with and through groups that are not part of the social-political-economic elite to promote better social-economics policies that benefit the non-elite are just some of the things heterodox economists can do. Of course, such behavior is frown upon, discouraged by the critics of heterodox economics — they would rather you be docile, embrace conformity, and behave as mainstream economist do. All I can do is to urge you to not crave respectability, but to develop a content-based heterodox economic theory and associated economic policy that contributes

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[H]eterodox economists need to be more active in challenging the dominance and anti-intellectual behavior of mainstream economics and economists. Not being respectable, standing up and just saying NO, pursuing heterodox research, and working with and through groups that are not part of the social-political-economic elite to promote better social-economics policies that benefit the non-elite are just some of the things heterodox economists can do. Of course, such behavior is frown upon, discouraged by the critics of heterodox economics — they would rather you be docile, embrace conformity, and behave as mainstream economist do. All I can do is to urge you to not crave respectability, but to develop a content-based heterodox economic theory and associated economic policy that contributes to building a better world out of the shell of the old.
(Fred Lee’s last editorial of the Heterodox Economics Newsletter, Issue 92, December 16, 2009).
Frederic S. Lee
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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