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A History of Heterodox Economics

Challenging the mainstream in the twentieth century

Frederic Lee author

Format:Hardback

Publisher:Taylor & Francis Ltd

Published:10th Mar '09

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A History of Heterodox Economics cover

This book explores the community history of heterodox economics, focusing on Marxian-radical and Post Keynesian perspectives, while detailing the challenges posed by neoclassical economics throughout the 20th century.

A History of Heterodox Economics offers a comprehensive exploration of the development and challenges faced by heterodox economics within the broader context of the discipline. The author meticulously details the rise of neoclassical economics as the dominant perspective, while also highlighting the responses from various alternative schools of thought, including Marxism, radical economics, and Post Keynesian economics. This work aims to illuminate the often-overlooked contributions and significance of these heterodox approaches in the field of economics.

The narrative is primarily framed through the lenses of Marxian-radical economics and Post Keynesian economics, allowing readers to understand the historical and social dynamics that have shaped these perspectives. The book delves into the tensions between orthodox and heterodox economists, particularly throughout the 20th century, revealing how neoclassical economists, supported by institutional power, sought to marginalize and exclude heterodox voices from academic discourse. This historical context is essential for grasping the ongoing debates within the discipline.

Professor Lee's examination extends to pivotal moments in American economics during the 1970s, the establishment of Post Keynesian economics in the United States, and the evolution of heterodox economics in Britain from 1970 to 1996. By providing a detailed account of these developments, the book not only enriches the reader's understanding of economic theory but also underscores the importance of diverse perspectives in shaping economic thought and policy.

'Fred Lee is an international treasure to heterodox economics, and this book is a treasure chest for heterodox economists, carefully laying out where we have come from and what we are up against. It is imperative reading for all of those concerned to offer alternatives to an intellectually bankrupt and intolerant mainstream.' -- Ben Fine (SOAS, University of London, UK)

'Fred Lee has his finger on the pulse of heterodox economics. This book will be of interest to anyone concerned with heterodox economics, its history, and its future. In documenting some of the little-known history of heterodox economics in the 20th century, Fred Lee has created a valuable work that fills a major gap in the literature.' -- Geoffrey Schneider (Bucknell University, USA)

'Fred Lee is a passionate and tireless proponent of heterodox economics, both in his organizational and scholarly activities. In this book the two sets of activities come together. Lee provides an excellent discussion of the history of heterodox economics in context of the organizations and networks of the economics discipline.' -- Wilfred Dolfsma (Utrecht University, the Netherlands)

'For decades, Lee has been meticulously documenting the marginalization and even exclusion of heterodox economics in the US and the UK. At last, he has put together his long-awaited, encyclopedic survey of the field. However, this book reads well, not like a dry encyclopedia. Lee adds color by introducing his reader to many of the scholars in order to give a context to their work. ... This book deserves the widest possible circulation. ... Highly recommended. -- CHOICE, M. Perelman (California State University)

ISBN: 9780415777148

Dimensions: unknown

Weight: 840g

368 pages