Several econ bloggers have had things to say over recent days about the distinctions between mainstream and heterodox economics. It’s a discussion topic that carries a cast iron guarantee of raising the blood pressure of everyone involved. It’s one I’ve blogged about several times previously, but not for a while.
The proximate cause for this debate springing back to life, in the UK at least, was the broadcast of a Radio 4 programme about economics education which some mainstream economists (notably Tony Yates) felt was hopelessly one-sided in its support for heterodoxy, without giving those working from a mainstream perspective the space to respond.
But the discussion has taken a bit of a novel turn. Several of the recent contributions have focused on politics. The starting point is the argument that heterodox economists adopt the stance they do in relation to the mainstream because their sympathies lie on the political left, whereas they perceive mainstream economics as supporting a right wing agenda, now including large doses of austerity. [Read more…]