Heterodox economics

Heterodox economics refers to schools of economic thought which do not conform to the mainstream paradigm of neoclassical economics.

Heterodox economists argue that most neoclassical economics take a narrow view on economic phenomena. Conventional economics are very narrowly reduced to what happens to factor-, product- or asset prices under specific conditions. More essentially, neoclassical economics only provide comparative statics, they don't actually explain the dynamics of an economy. Heterodox economic theories aim to explain more or less complex phenomena that can be described as economic, yet are not covered by neoclassical theories.

The most prevalent heterodox economic schools today are:

• Complexity economics
• Evolutionary economics
• Cognitive Economics
• Institutional economics and New institutional economics
• Bioeconomics
• Socialist economics, marxist economics or Temporal Single-System Interpretation of marxism
• Feminist economics
• Post-Keynesian Economics

A great deal of research is also being done in the multidisciplinary field of cognitive science on individual decision making, information as a general phenomena, distributed cognition and their implications on economic dynamicity.

Also, many schools of other social sciences besides economics aim to re-introduce into economic science perspectives which have been expelled or banned from it: classical and modern political economy; economic history; economic sociology and anthropology; gender and racial issues in economics; public finance; economic ethics and social justice; development studies; and so on.

See also

• Real prices and ideal prices
• Economics

External links

• Heterodox economics web
• Open university
• Post-autistic economics review
• Debunking Economics
• Dollars and Sense
• Union for Radical Political Economics
• Evolutionary Economics - john p birchall

References

• Marc Linder, Anti-Samuelson.
• Francis Green & Petter Nore (eds.), Economics: An Anti-Text.