Orthodox and heterodox economics in recent economic methodology

Plurality in Orthodox and Heterodox Economics*

Several observers have noted signs of a growing plurality in mainstream economics. At the same time there has been a growing emphasis in heterodox economics on commonality. The purpose of this paper is to explore the nature of plurality in economics in order to make sense of these characterisations, and to consider the issues raised by this plurality. The critical factor is to distinguish betwe...

Reconciling Orthodox and Heterodox Approaches to Economic Growth – A Modeling Proposal

The Nature of Heterodox Economics

This is the last of 10 papers in this journal’s Symposium on Reorienting Economics, which has taken Tony Lawson’s book Reorienting Economics as its focal point. These papers together with Lawson’s replies to each (heretofore unpublished) will be published late in 2007 by the University of Michigan Press under the title Tony Lawson and His Critics. The contents of this collection can be viewed a...

The nature of heterodox economics

Heterodoxy serves as an umbrella term to cover the coming together of separate projects or traditions. In answering the question, ‘what distinguishes heterodoxy from the orthodoxy?’, the author argues that matters of ontology are central. In answering the question, ‘how are the various traditions that make up the modern heterodoxy to be distinguished from each other?’, the author defends criter...

Heterodox economics: A common challenge to mainstream economics?

There is evidence of an increasing coherence, and openness to communication, among the different strands of economics. The purpose of this paper is to address the questions this raises as to whether or not there is still a useful role for the concept of schools of thought. We explore first the categories of orthodox economics and heterodox economics and how we can expect them to develop in the ...