What Is Heterodox Economics?

Capitalism and crises: A comparative analysis of mainstream and heterodox perceptions and related ethical considerations

“…There is no one agreed upon definition of what exactly heterodox economics is (Dequech, 2007(Dequech, , 2012Lawson, 2006;Mearman, 2011;Mearman et al, 2019). Issues surrounding the definition of heterodox economics possibly stem from the fact that under this umbrella term (Lawson, 2006), multiple varying schools of thought can be found (such as Marxism, Feminism, Post-Keynesianism, Institutionalism, Evolutionary and Ecological Economics to name a few).…”

“…Attempted definitions for heterodox economics range from any economic paradigm that is in opposition to the mainstream theory (Dequech, 2007(Dequech, , 2012Lawson, 2006;Mearman, 2011;Mearman et al, 2019) to ontological similarities that underlie all heterodox schools of economic thought (Lawson, 2006) such as, for example, plurality of theory and methodology (Dow, 2008;Mearman et al, 2019) and a rejection of deductivist methods (Lawson, 2006) that are inadequate for the explanation of social systems (Fine, 2019;Lawson, 2006). Research as to what exactly constitutes heterodox economics is ongoing (Mearman et al, 2019). Hence, for the purpose, here, we will focus on explaining what constitutes a heterodox economic theory, which is geared towards the aim of this paper, in understanding modern capitalist economies and specifically the crises within them.…”

“…Different to the orthodox approach discussed above, heterodox schools of thought vary substantially in their approach to capitalist economies with differing analytical starting points, methodologies and more generally their understanding of reality. Yet, while great differences between the diverse heterodox schools of thought exist, it does not mean that these schools are inconsistent or that there does not exist any sort of coherence among these paradigms (Lawson, 2006; Mearman et al., 2019).…”

Jhet Interviews Series: An Editorial Introduction

“…Less commonly, some of our colleagues appear in interviews published in academic outlets: take Ingrid Rima’s interview opening the book of conversations with women economists in the United States (Olson and Emami 2002), or Weintraub’s interview in a book with a group of economists from different universities (Bowmaker 2012), or yet Esther-Mirjam Sent being interviewed in a set of conversations with heterodox economists (Mearman et al . 2019). There are also Robert Denis Collison Black’s and David Laidler’s interviews opening their Festschrifts (Murphy and Prendergast 2000; Leeson 2010) and an earlier interview with Laidler (Rühl and Laidler 1998); A. W. “Bob” Coats’s interview in his collected papers (Coats 2014); Wade Hands’s 2013 interview (Hands 2013); Tom Humphrey’s and Bruce Caldwell’s interviews for the Federal Reserve Bank of Richmond (Broaddus and Humphrey 2004; Caldwell 2010); John Davis’s 2018 interview (Morgan 2018); and a few interviews with historians in the Erasmus Journal for Philosophy and Economics : John Davis in 2012 (vol.…”