The great irony is that the criticism only applies to mainstream economists. You have Keynesianism, Monetarism, and Chicago School that make up orthodox economics and you have on opposite extremes the scientific socialism of Marxism and the scientific marketism of the Austrian School, both of which are labeled heterodox for being to scientific. So hilarious that science is considered heresy in mainstream economics.
Actually, Murray Newton Rothbard hated Thatcerism, Reaganism, Chicago School, and Objectivism.
Those he criticized below:
There is a quiz with four multiple choice answers to ten to twenty five economic questions that differentiate four schools of economics. It’s a really great learning experience. It’s now mostly seen as icebreaker a on dating sites, but I can’t find the original that wasn’t on a dating site.
As a student of all the social sciences like anthropology, political science, psychology, sociology, and economics, I found only so-called “heterodox” economics tries to use insights from other sciences in economics.
An interesting idea online and on Medium is universal basic income guarantee.
FairTax has a basic income called a Prebate as part of itself. I could go on and one about specifics ideas rather than schools. Both of the above ideas are hard to put in a specific box as they have universal appeal and opposition that crosses all lines. I already talked about the LVT idea.
Back to the quiz. I will try to find it on a non-dating site that won’t refuse to give you results until after you sign up with the dating site. It used to be on the LvMI website, but that was desktop version and I’m on a mobile device right now. I find mobile website versions while simpler, are harder for me to navigate for some reason.
Joe Brewer do you subscribe to any Basic Income related things here? Have you read articles on Basic Income here? What do you think of it as well as FairTax and Land Value Tax ideas?
I just added more reading, because I’m a huge fan of philsophy.
This last link is pure philosophy and is just a pet interest of mine. You can chime in on your opinion of the meaning of life as well. I like Classical Liberalism and Kantianism as idea sources. Secular Humanism also has good ideas on the meaning of life.
Fields of Heterodox Economic Thought
American Institutionalist School
Austrian economics #
Binary Economics
Bioeconomics
Complexity economics
Ecological economics §
Evolutionary economics # § (partly within mainstream economics)
Feminist economics # §
Georgism
Gift-based economics
Green Economics
Gesellian economics
Innovation Economics
Institutional economics # §
Islamic economics
Marxian economics #
Mutualism
Neuroeconomics
Participatory economics
Post-Keynesian economics § including Modern Monetary Theory and Circuitism
Post scarcity
Resource-based economics — not to be confused with a resource-based economy
Sharing economics
Socialist economics #
Social economics (partially heterodox usage)
Sraffian economics #
Technocracy (Energy Accounting)
Thermoeconomics
Mouvement Anti-Utilitariste dans les Sciences Sociales
# Listed in Journal of Economic Literature codes scrolled to at JEL: B5 — Current Heterodox Approaches.
§ Listed in The New Palgrave Dictionary of Economics, 2nd Edition, v. 8, Appendix IV, p. 856, searchable by clicking (the JEL classification codes JEL:) radio button B5, B52, or B59, then the Search button (or Update Search Results button) at http://www.dictionaryofeconomics.com/search_results?edition=all&field=content&q=&topicid=B5.
Some schools in the social sciences aim to promote certain perspectives: classical and modern political economy; economic sociology and anthropology; gender and racial issues in economics; and so on.
Notable heterodox economists
Karl Marx
Richard D. Wolff
Thorstein Veblen
Alfred S. Eichner
Piero Sraffa
Joan Violet Robinson
Michał Kalecki
Frederic S. Lee
Ha-Joon Chang
Henry George
Note: Henry George and Georgism are mentioned.
Also note: Complexity and Ecological are also mentioned. I will study all of them and compare and contrast each and every one of them. I was familiar with at lest a dozen of them already like Mutualism and Pierre Joseph Proudhon.
Those art two examples of ones I have studied in depth already. I’m still very curious about both them and their real world application beyond the realm of theory.
