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Neoclassical, mainstream, orthodox, and heterodox economics

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  • David Dequech

Abstract

This paper discusses the concepts of neoclassical, mainstream, orthodox, and heterodox economics, distinguishing temporally more general and more specific concepts. The concept of mainstream economics is based on prestige and influence and includes ideas taught in prestigious schools. Although the current mainstream (neoclassical economics included) is clearly diverse, commonality in it is more controversial. Heterodox economics can be defined negatively, in opposition either to the orthodoxy or to the mainstream. The lack of consensus generates communication problems. Another possibility would be to define heterodox economics positively, but the result in the current period may be an empty set.

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Bibliographic Info

Article provided by M.E. Sharpe, Inc. in its journal Journal of Post Keynesian Economics.

Volume (Year): 30 (2007)
Issue (Month): 2 (December)
Pages: 279-302

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Handle: RePEc:mes:postke:v:30:y:2007:i:2:p:279-302

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Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=109348

Related research

Keywords: heterodox; mainstream; neoclassical; orthodox; schools of thought;

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Cited by:
  1. Engelbert Stockhammer & Paul Ramskogler, 2009. "Post-Keynesian economics How to move forward," European Journal of Economics and Economic Policies: Intervention, Edward Elgar, vol. 6(2), pages 227-246.
  2. Matías Vernengo, 2009. "Conversation or Monologue? On Advising Heterodox Economists," Working Paper Series, Department of Economics, University of Utah 2009_11, University of Utah, Department of Economics.
  3. Csaba, László, 2008. "Módszertan és relevancia a közgazdaságtanban. A mai közgazdaságtan és a társtudományok
    [Methodology and relevancy in economics. Today s economics and associated sciences]
    ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(4), pages 285-307.
  4. James P. Gander, 2009. "Firm Debt Structure and Firm Size," Working Paper Series, Department of Economics, University of Utah 2009_09, University of Utah, Department of Economics.
  5. David Colander & Richard P.F. Holt & J. Barkley Rosser, Jr., 2007. "Live and Dead Issues in the Methodology of Economics," Middlebury College Working Paper Series 0704, Middlebury College, Department of Economics.
  6. Andrew Mearman, 2009. "Who do heterodox economists think they are?," Working Papers 0915, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
  7. Andrew Mearman, 2010. "What is this thing called ‘heterodox economics’?," Working Papers 1006, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
  8. Fontana Magda, 2009. "The Santa Fe Perspective on Economics: emerging patterns in the science of complexity," CESMEP Working Papers 200908, University of Turin.

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