The making of heterodox microeconomics
AbstractThis paper constitutes the first chapter in my work-in-progress manuscript, Microeconomic Theory: A Heterodox Approach. Because many heterodox feel that the only micro theory is mainstream micro, the paper starts with a brief rejection of mainstream theory. It then proceeds to give an overview of heterodox economic theory. The third section defines heterodox microeconomic theory and relates it to heterodox value theory. Since heterodox economic theory and particularly microeconomic theory is not already formed, it has to be created. Thus the fourth section of the paper delineates the heterodox methodology of theory creation, which includes critical realism and the method of grounded theory, and discusses various methodological issues such as data, case studies, mathematics and modeling, and econometrics. The following section deals with the historical character of heterodox economic theories; and the paper ends with a discussion about the making of heterodox microeconomic theory that will take place in the subsequent chapters of the book.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 30907.
Date of creation: 12 May 2011
Date of revision:
Heterodox; Microeconomics; Critical Realism; Grounded Theory;
Find related papers by JEL classification:
- B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
- D00 - Microeconomics - - General - - - General
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-05-24 (All new papers)
- NEP-HIS-2011-05-24 (Business, Economic & Financial History)
- NEP-HME-2011-05-24 (Heterodox Microeconomics)
- NEP-HPE-2011-05-24 (History & Philosophy of Economics)
- NEP-PKE-2011-05-24 (Post Keynesian Economics)
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