Heterodox
Another argument for paradigm shift away from the neoclassical model in economics. It no longer fits the facts (if it ever did). The "free market" that neoclassical economics assumes, the atomism of methodological individualism, and other such assumptions based on "simplifying," are myths concocted partly for methodological convenience ("mathematical tractability") and partly owing to ideology (cognitive bias). Theoretically, this would just be a curiosity of history, like the "ether" and...
Read More »