Advancing the Frontiers of Heterodox Economics

This collection of essays celebrates Frederic S. Lee's contributions to heterodox economics, exploring its history, microeconomic theories, and social provisioning, while highlighting the potential for constructive developments within the field.

Advancing the Frontiers of Heterodox Economics is a collection of essays that pays tribute to the influential work of Frederic S. Lee, a key figure in the heterodox economics movement for over thirty years. The contributors highlight how heterodox economics has evolved beyond mere critiques of mainstream economic theories, showcasing its potential for constructive dialogue among various heterodox traditions. This collection emphasizes the importance of collaboration and communication in fostering new ideas and approaches within the field.

The book is structured around three central themes that define Lee's contributions to heterodox economics: the establishment of a historical identity for the discipline, the exploration of heterodox microeconomic theories, and the analysis of social provisioning within capitalist systems. The first section focuses on the significance of history, theory, and research methods in shaping heterodox economics as a viable alternative to mainstream perspectives. In the second section, the authors investigate microeconomic concepts such as investment, pricing, and market governance, which serve as the foundation for broader macroeconomic analyses. The final section delves into the complexities of social provisioning, examining the interconnections of various subsystems over time.

Overall, this collection reflects Frederic S. Lee’s belief that the advancement of heterodox economics is achievable through dedicated efforts to develop both theoretical frameworks and institutional support. The essays collectively affirm that creating an alternative critical theory is not only feasible but also beneficial for a significant portion of society, paving the way for a more inclusive economic discourse.