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Heterodox Economics and its Critics

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  • Frederic S. Lee

Abstract

Heterodox economics has its critics. Most of the criticisms are friendly comments and analysis directed towards improving heterodox economic theory. However, the critics and their criticisms that are the concern of this article are the ones that challenge the existence of heterodox economic theory and the community of heterodox economists as manifested through their graduate programs, conferences, journals and identity. These critics observe that the academic status quo in economics, as manifested in its department and journal rankings, rules of academic engagement, and its institutions and organizations, favor mainstream economics and that it is unlikely to change in the future. Consequently, they argue that heterodox economists can survive only if they become more like mainstream economists. With focus on assimilation, the critics direct their criticisms towards the social characteristics of the heterodox community and to the personal characteristics of heterodox economists. This article is a response to the critics.

Suggested Citation

  • Frederic S. Lee, 2012. "Heterodox Economics and its Critics," Review of Political Economy, Taylor & Francis Journals, vol. 24(2), pages 337-351, April.
    • Handle: RePEc:taf:revpoe:v:24:y:2012:i:2:p:337-351
    DOI: 10.1080/09538259.2012.664360
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    References listed on IDEAS

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    1. Gianfranco Di Vaio & Jacob Louis Weisdorf, 2010. "Ranking economic history journals: a citation-based impact-adjusted analysis," Cliometrica, Journal of Historical Economics and Econometric History, Association Française de Cliométrie (AFC), vol. 4(1), pages 1-17, January.
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    Cited by:

    1. Zacchia, Giulia, 2016. "Segregation or homologation? Gender differences in recent Italian economic thought," MPRA Paper 72279, University Library of Munich, Germany.
    2. Mark Horowitz & Robert Hughes, 2018. "Political Identity and Economists’ Perceptions of Capitalist Crises," Review of Radical Political Economics, Union for Radical Political Economics, vol. 50(1), pages 173-193, March.
    3. Carlo D’Ippoliti, 2015. "Frederic S. Lee and the Challenges for Heterodox Economics," Bulletin of Political Economy, Bulletin of Political Economy, vol. 9(1), pages 85-91, June.
    4. William A. Jackson, 2018. "Strategic Pluralism and Monism in Heterodox Economics," Review of Radical Political Economics, Union for Radical Political Economics, vol. 50(2), pages 237-251, June.
    5. Tae-Hee Jo, 2016. "Frederic S. Lee and His Fight for the Future of Heterodox Economics," PSL Quarterly Review, Economia civile, vol. 69(278), pages 267-278.
    6. Heise, Arne & Thieme, Sebastian, 2017. "University Governance and Heterodox Economis: Mapping an Academic Field of Power in Germany," MPRA Paper 92485, University Library of Munich, Germany.
    7. Smita Srinivas, 2020. "Institutional variety and the future of economics," Review of Evolutionary Political Economy, Springer, vol. 1(1), pages 13-35, May.
    8. Lakshmi, Geeta, 2018. "Gekko and black swans: Finance theory in UK undergraduate curricula," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 52(C), pages 35-47.
    9. J. E. King, 2012. "Post Keynesians and Others," Review of Political Economy, Taylor & Francis Journals, vol. 24(2), pages 305-319, April.
    10. Jo, Tae-Hee, 2016. "The Social Provisioning Process and Heterodox Economics," MPRA Paper 72384, University Library of Munich, Germany.
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    13. Gu, Gaoxiang & Wang, Zheng, 2018. "Research on global carbon abatement driven by R&D investment in the context of INDCs," Energy, Elsevier, vol. 148(C), pages 662-675.

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