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heterodox economics : ウィキペディア英語版
heterodox economics

Heterodox economics refers to methodologies or schools of economic thought that are considered outside of "mainstream economics", often represented by expositors as contrasting with or going beyond neoclassical economics.〔Fred E. Foldvary, ed., 1996. ''Beyond Neoclassical Economics: Heterodox Approaches to Economic Theory'', Edward Elgar. Description and contents (B&N.com links ).〕〔Frederic S. Lee, 2008. "heterodox economics," ''The New Palgrave Dictionary of Economics'', 2nd Edition, v. 4, pp. 2-65. ( Abstract. )〕 "Heterodox economics" is an umbrella term used to cover various approaches, schools, or traditions. These include socialist, Marxian, institutional, evolutionary, Georgist, Austrian, feminist,〔In the order listed at JEL classification codes#History of economic thought, methodology, and heterodox approaches JEL: B Subcategories, JEL: B5 - Current Heterodox Approaches.〕 social, post-Keynesian (not to be confused with New Keynesian),〔 and ecological economics among others. In the JEL classification codes developed by the ''Journal of Economic Literature'', heterodox economics is in the second of the 19 primary categories at:
: - History of Economic Thought, Methodology, and Heterodox Approaches.
Mainstream economics may be called ''orthodox'' or ''conventional'' economics by its critics.〔C. Barry, 1998. ''Political-economy: A comparative approach''. Westport, CT: Praeger.〕 Alternatively, mainstream economics deals with the "rationality-individualism-equilibrium nexus" and heterodox economics is more "radical" in dealing with the "institutions-history-social structure nexus".〔John B. Davis (2006). "Heterodox Economics, the Fragmentation of the Mainstream, and Embedded Individual Analysis", in ''Future Directions in Heterodox Economics'', p. (57 ). Ann Arbor: University of Michigan Press.〕 Mainstream economists sometimes assert that heterodox economics has little or no influence on the vast majority of academic economists in the English speaking world. Heterodox schools of economics are also usually dismissed as "fringe" and "irrelevant" by prominent mainstream economists.〔Among these economists, Robert M. Solow names Austrian, Post-Keynesian, Marxist, and neo-Ricardian schools as on "dissenting fringes of academic economics". Solow continued that "In economics, nevertheless, there is usually a definite consensus — there is one now." Further:
Marx was an important and influential thinker, and Marxism has been a doctrine with intellectual and practical influence. The fact is, however, that most serious English-speaking economists regard Marxist economics as an irrelevant dead end.

George Stigler similarly noted the professional marginality of the "neo-Ricardian" economists (who follow Piero Sraffa):
"economists working in the Marxian-Sraffian tradition represent a small minority of modern economists, and ... their writings have virtually no impact upon the professional work of most economists in major English-language universities."

A recent review documents several prominent groups of heterodox economists since at least the 1990s as working together with a resulting increase in coherence across different constituents.〔 Along these lines, the International Confederation of Associations for Pluralism in Economics (ICAPE) does not define "heterodox economics" and has avoided defining its scope. ICAPE defines its mission as "promoting pluralism in economics."
In defining a common ground in the "critical commentary," one writer described fellow heterodox economists as trying to do three things: (1) identify shared ideas that generate a pattern of heterodox critique across topics and chapters of introductory macro texts; (2) give special attention to ideas that link methodological differences to policy differences; and (3) characterize the common ground in ways that permit distinct paradigms to develop common differences with textbook economics in different ways.
One study suggests four key factors as important to the study of economics by self-identified heterodox economists: history, natural systems, uncertainty, and power.〔Mearman, Andrew (2011). "Who Do Heterodox Economists Think They Are?" ''American Journal of Economics and Sociology,'' 70(2): (480–510 ).〕
==History==
A number of heterodox schools of economic thought challenged the dominance of neoclassical economics after the neoclassical revolution of the 1870s. In addition to socialist critics of capitalism, heterodox schools in this period included advocates of various forms of mercantilism, such as the American School dissenters from neoclassical methodology such as the historical school, and advocates of unorthodox monetary theories such as Social credit. Other heterodox schools active before and during the Great Depression included Technocracy and Georgism.
Physical scientists and biologists were the first individuals to use energy flows to explain social and economic development. Joseph Henry, an American physicist and first secretary of the Smithsonian Institution, remarked that the "fundamental principle of political economy is that the physical labor of man can only be ameliorated by… the transformation of matter from a crude state to a artificial condition...by expending what is called power or energy."〔Cutler J. Cleveland, ("Biophysical economics" ), ''Encyclopedia of Earth'', Last updated: September 14, 2006.〕〔Eric Zencey, 2009. "Mr. Soddy’s Ecological Economy",] ''The New York Times'', April 12, (p. WK 9. )〕
The rise, and absorption into the mainstream of Keynesian economics, which appeared to provide a more coherent policy response to unemployment than unorthodox monetary or trade policies contributed to the decline of interest in these schools.
After 1945, the neoclassical synthesis of Keynesian and neoclassical economics resulted in a clearly defined mainstream position based on a division of the field into microeconomics (generally neoclassical but with a newly developed theory of market failure) and macroeconomics (divided between Keynesian and monetarist views on such issues as the role of monetary policy). Austrians and post-Keynesians who dissented from this synthesis emerged as clearly defined heterodox schools. In addition, the Marxist and institutionalist schools remained active.
Up to 1980 the most notable themes of heterodox economics in its various forms included:
# rejection of the atomistic individual conception in favor of a socially embedded individual conception;
# emphasis on time as an irreversible historical process;
# reasoning in terms of mutual influences between individuals and social structures.
From approximately 1980 mainstream economics has been significantly influenced by a number of new research programs, including behavioral economics, complexity economics, evolutionary economics, experimental economics, and neuroeconomics. As a consequence, some heterodox economists, such as John B. Davis, proposed that the definition of heterodox economics has to be adapted to this new, more complex reality:
::...heterodox economics post-1980 is a complex structure, being composed out of two broadly different kinds of heterodox work, each internally differentiated with a number of research programs having different historical origins and orientations: the traditional left heterodoxy familiar to most and the 'new heterodoxy' resulting from other science imports.〔

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