heterodox economics
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by
Steven
N.
Durlauf and
Lawrence
E.
Blume
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Abstract
Although ‘heterodox economics’ is a widely used term, precisely what it means is debated. I argue that heterodox economics refers to a body of economic theories that holds an alternative position vis-à-vis mainstream economics; to a community of heterodox economists who identify themselves as such and embrace a pluralistic attitude towards heterodox theories without rejecting contestability and incommensurability among heterodox theories; and to the development of a coherent economic theory that draws upon various theoretical contributions by heterodox approaches which stand in contrast to mainstream theory.
Keywords
Association for Heterodox Economics; Austrian economics; capitalism; class; evolutionary economics; feminist economics; heterodox economics; institutional economics; interdependencies; Marxian economics; Post Keynesian economics; radical economics; scarcity; social economics; Sraffian economics; pluralism; political economy; mainstream economics; social provisioning
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How to cite this article
Lee, Frederic S. "heterodox economics." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 19 June 2013 <http://www.dictionaryofeconomics.com/article?id=pde2008_H000175> doi:10.1057/9780230226203.0727

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