Heterodox
New working paper published by the Centro di Ricerche e Documentazione Piero Sraffa. From the abstract: This paper critically analyzes Geoffrey Hodgson’s definition of heterodox economics as the refutation of the orthodox view that emphasizes utility maximization as its main theoretical core, and his view that it is the fragmentation of heterodox economics that explains its subsidiary role within the profession. Hodgson’s views led to a series of responses, that criticize his definition, but...
Read More »Yannick Slade-Caffarel — The nature of heterodox economics revisited
While the mainstream is defined by an insistence on method, the heterodoxy is defined by a concern with reality. What is so powerful about the conception, and what seems to have been almost entirely ignored, is what comes next. The implication of Lawson’s conception is that heterodox economics encompasses all those researchers that desire to study economic phenomena in accordance with our best understanding of how social phenomena exist. What method they decide to use is not a factor in...
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