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{{Short description|Economic theories that contrast with orthodox schools of economic thought}}
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[[File:Heterodox3.png|thumb|Heterodox economics family tree.]]

'''Heterodox economics''' is any economic thought or theory that contrasts with [[orthodox economics|orthodox]] [[schools of economic thought]], or that may be beyond [[neoclassical economics]].<ref>Fred E. Foldvary, ed., 1996. ''Beyond Neoclassical Economics: Heterodox Approaches to Economic Theory'', Edward Elgar. Description and contents [http://www.barnesandnoble.com/w/beyond-neoclassical-economics-fred-e-foldvary/1001678359?ean=9781858983950#product-commentaries-1 B&N.com links] {{Webarchive|url=https://web.archive.org/web/20131213105950/http://www.barnesandnoble.com/w/beyond-neoclassical-economics-fred-e-foldvary/1001678359?ean=9781858983950#product-commentaries-1 |date=2013-12-13 }}.</ref><ref name="Lee2008">Frederic S. Lee, 2008. "heterodox economics," ''[[The New Palgrave Dictionary of Economics]]'',  2nd Edition, v. 4, pp. 2–65. [http://www.dictionaryofeconomics.com/article?id=pde2008_H000175&q=heterodox%20economics&topicid=&result_number=1  Abstract.] {{Webarchive|url=https://web.archive.org/web/20161223063940/http://www.dictionaryofeconomics.com/article?id=pde2008_H000175 |date=2016-12-23 }}</ref> These include [[institutional economics|institutional]], [[evolutionary economics|evolutionary]], [[Feminist economics|feminist]],<ref>In the order listed at [[JEL classification codes#B. History of Economic Thought, Methodology, and Heterodox Approaches|JEL classification codes § B. History of Economic Thought, Methodology, and Heterodox Approaches]], JEL: B5 – Current Heterodox Approaches.</ref> [[social economics|social]], [[Post-Keynesian economics|post-Keynesian]] (not to be confused with [[New Keynesian]]),<ref name="Lee2008" /> [[Ecological economics|ecological]], [[Austrian School|Austrian]], [[Humanistic economics|humanistic]], [[Complexity economics|complexity]], [[Marxian economics|Marxian]], [[Socialist economics|socialist]], [[Anarchist economics|anarchist]] and [[modern monetary theory]] economics.<ref name=LAWSON>{{cite journal |last1=Lawson |pages=483–505 |first1=T. |volume=30 |year=2005 |title=The nature of heterodox economics |journal=Cambridge Journal of Economics |doi=10.1093/cje/bei093 |url=http://cas.umkc.edu/econ/economics/faculty/wray/papers/lawson_on_heterdoxy.pdf |issue=4 |access-date=2010-03-30 |archive-date=2011-09-28 |archive-url=https://web.archive.org/web/20110928021126/http://cas.umkc.edu/econ/economics/faculty/wray/papers/lawson_on_heterdoxy.pdf |url-status=live }}</ref>

Economics may be called ''[[Orthodoxy#Critical uses|orthodox]]'' or ''conventional'' economics by its critics.<ref name="Barry">C. Barry, 1998. ''Political-economy: A comparative approach''. Westport, CT: Praeger.{{Page needed|date=November 2010}}</ref> 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".<ref>John B. Davis (2006). "Heterodox Economics, the Fragmentation of the Mainstream, and Embedded Individual Analysis", in ''Future Directions in Heterodox Economics'', p. [https://books.google.com/books?id=VVmBSpZV07AC&pg=PA57=false 57] {{Webarchive|url=https://web.archive.org/web/20221206155814/https://books.google.com/books?id=VVmBSpZV07AC&pg=PA57=false |date=2022-12-06 }}. Ann Arbor: University of Michigan Press.</ref>

A 2008 review documented several prominent groups of heterodox economists since at least the 1990s as working together with a resulting increase in coherence across different constituents.<ref name="Lee2008"/> 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.<ref>{{cite journal |first1=Steve |last1=Cohn |year=2003 |title=Common Ground Critiques of Neoclassical Principles Texts |journal=Post-Autistic Economics Review |issue=18, article 3 |url=http://www.paecon.net/PAEReview/heterodoxeconomics/Cohn18.htm |access-date=2010-10-06 |archive-date=2019-08-27 |archive-url=https://web.archive.org/web/20190827093723/http://www.paecon.net/PAEReview/heterodoxeconomics/Cohn18.htm |url-status=live }}</ref>

One study suggests four key factors as important to the study of economics by self-identified heterodox economists: history, natural systems, uncertainty, and power.<ref>Mearman, Andrew (2011). "Who Do Heterodox Economists Think They Are?" ''[[American Journal of Economics and Sociology]],'' 70(2): [http://onlinelibrary.wiley.com/doi/10.1111/j.1536-7150.2011.00774.x/full 480–510] {{Webarchive|url=https://web.archive.org/web/20160305100240/http://onlinelibrary.wiley.com/doi/10.1111/j.1536-7150.2011.00774.x/full |date=2016-03-05 }}.</ref>

==History==
In the mid-19th century, such thinkers as [[Auguste Comte]], [[Thomas Carlyle]], [[John Ruskin]] and [[Karl Marx]] made early critiques of orthodox economy.{{Sfn|Crozier|1906|pp=115–116}} 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 (economics)|American School]] dissenters from neoclassical [[methodology]] such as the [[Historical school of economics|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 an artificial condition...by expending what is called power or energy."<ref>Cutler J. Cleveland, [http://www.eoearth.org/article/Biophysical_economics "Biophysical economics"] {{Webarchive|url=https://web.archive.org/web/20120205201658/http://www.eoearth.org/article/Biophysical_economics |date=2012-02-05 }}, ''Encyclopedia of Earth'', Last updated: September 14, 2006.</ref><ref>Eric Zencey, 2009. "Mr. Soddy’s Ecological Economy",] ''The New York Times'', April 12, [https://www.nytimes.com/2009/04/12/opinion/12zencey.html?_r=1&ref=opinion p. WK 9.] {{Webarchive|url=https://web.archive.org/web/20170228212119/http://www.nytimes.com/2009/04/12/opinion/12zencey.html?_r=1 |date=2017-02-28 }}</ref>

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 but with limited acceptance or credibility.<ref>In 1962, [[Paul Samuelson]] (who would later win the Nobel Prize in economics) wrote: "From the viewpoint of pure economic theory, Karl Marx can be regarded as a minor post-[[David Ricardo|Ricardian]]." Paul Samuelson (1962). “Economists and History of Ideas,” The American Economic Review,  March 1962</ref>

Up to 1980 the most notable themes of heterodox economics in its various forms included:
# rejection of the [[Methodological individualism|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]]. One key development has been an epistemic turn away from theory towards an empirically driven approach focused centrally on questions of causal inference.<ref>{{Cite journal|last1=Angrist|first1=Joshua D|last2=Pischke|first2=Jörn-Steffen|date=2010-05-01|title=The Credibility Revolution in Empirical Economics: How Better Research Design is Taking the Con out of Econometrics|journal=Journal of Economic Perspectives|language=en|volume=24|issue=2|pages=3–30|doi=10.1257/jep.24.2.3|issn=0895-3309|doi-access=free|hdl=1721.1/54195|hdl-access=free}}</ref> 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:<ref name=DAVIS>{{cite journal |first1=John B. |last1=Davis |year=2006 |title=The Nature of Heterodox Economics |journal=Post-Autistic Economics Review |issue=40 |pages=23–30 |url=http://www.paecon.net/PAEReview/issue40/Davis40.pdf |access-date=2007-05-06 |archive-date=2019-03-03 |archive-url=https://web.archive.org/web/20190303145816/http://www.paecon.net/PAEReview/issue40/Davis40.pdf |url-status=live }}</ref>

::...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.<ref name=DAVIS/>

==Rejection of neoclassical economics==
{{See also|Neoclassical economics#Criticisms}}
There is no single "heterodox economic theory"; there are many different "heterodox theories" in existence. What they all share, however, is a rejection of the [[Neoclassical economics|neoclassical orthodoxy]] as representing the appropriate tool for understanding the workings of economic and social life.<ref>{{cite book|last1=Lee|first1=Frederic|title=A History of Heterodox Economics: Challenging Mainstream Views in the 21st Century|date=September 16, 2011|publisher=Routledge|isbn=978-0415681971|pages=7–9|edition=Reprint}}</ref> The reasons for this rejection may vary. Some of the elements commonly found in heterodox critiques are listed below.

===Criticism of the neoclassical model of individual behavior===
One of the most broadly accepted principles of neoclassical economics is the assumption of the "rationality of economic agents". Indeed, for a number of economists, the notion of rational maximizing behavior is taken to be synonymous with economic behavior (Hirshleifer 1984). When some economists' studies do not embrace the rationality assumption, they are seen as placing the analyses outside the boundaries of the Neoclassical economics discipline (Landsberg 1989, 596). Neoclassical economics begins with the ''[[A priori and a posteriori|a priori]]'' assumptions that agents are [[rationality|rational]] and that they seek to maximize their [[Methodological individualism|individual]] [[utility]] (or [[Profit (economics)|profits]]) subject to environmental constraints. These assumptions provide the backbone for [[rational choice theory]].

Many heterodox schools are critical of the [[homo economicus]] model of human behavior used in the standard neoclassical model. A typical version of the critique is that of Satya Gabriel:<ref name="HETTHEORY">Satya J. Gabriel 2003. "Introduction to Heterodox Economic Theory." (blog), June 4, [http://www.mtholyoke.edu/courses/sgabriel/heterodox_defined.htm] {{Webarchive|url=https://web.archive.org/web/20160630115110/https://www.mtholyoke.edu/courses/sgabriel/heterodox_defined.htm|date=2016-06-30}} Satya J. Gabriel is a Professor of [[Economics]] at [[Mount Holyoke College]]</ref>{{self-published inline|date=November 2010}}
<blockquote>Neoclassical economic theory is grounded in a particular conception of human psychology, agency or decision-making.  It is assumed that all human beings make economic decisions so as to maximize pleasure or utility.  Some heterodox theories reject this basic assumption of neoclassical theory, arguing for alternative understandings of how economic decisions are made and/or how human psychology works.  It is possible to accept the notion that humans are pleasure seeking machines, yet reject the idea that economic decisions are governed by such pleasure seeking.  Human beings may, for example, be unable to make choices consistent with pleasure maximization due to social constraints and/or coercion.  Humans may also be unable to correctly assess the choice points that are most likely to lead to maximum pleasure, even if they are unconstrained (except in budgetary terms) in making such choices.  And it is also possible that the notion of pleasure seeking is itself a meaningless assumption because it is either impossible to test or too general to refute.  Economic theories that reject the basic assumption of economic decisions as the outcome of pleasure maximization are heterodox.</blockquote>

Shiozawa emphasizes that economic agents act in a complex world and therefore impossible for them to attain maximal utility point. They instead behave as if there are a repertories of many ready made rules, one of which they chose according to relevant situation.<ref>Shiozawa, Y. 2004 Evolutinary Economics in the 21st Century: A Manifest, ''Evolutionary and Institutional Economics Review'', '''1'''(1): 5–47.</ref>

===Criticism of the neoclassical model of market equilibrium===
In microeconomic theory, cost-minimization by consumers and by firms implies the existence of [[supply and demand]] correspondences for which [[market clearing]] [[Economic equilibrium|equilibrium]] prices exist, if there are large numbers of consumers and producers. Under convexity assumptions or under some marginal-cost pricing rules, each equilibrium will be [[Pareto efficiency|Pareto efficient]]: In large economies, non-convexity also leads to quasi-equilibria that are nearly efficient.

However, the concept of market equilibrium has been criticized by Austrians, post-Keynesians and others, who object to applications of microeconomic theory to real-world markets, when such markets are not usefully approximated by microeconomic models. Heterodox economists assert that micro-economic models rarely capture reality.

Mainstream microeconomics may be defined in terms of optimization and equilibrium, following the approaches of [[Paul Samuelson]] and [[Hal Varian]]. On the other hand, heterodox economics may be labeled as falling into the [[wikt:nexus|nexus]] of institutions, history, and social structure.<ref name=LAWSON/><ref name=DOW>{{cite journal |doi=10.1080/10427710050025367 |first1=S. C. |last1=Dow |year=2000 |title=Prospects for the Progress in Heterodox Economics |journal=Journal of the History of Economic Thought |volume=22 |issue=2 |pages=157–70 |hdl=1893/24906 |s2cid=3238380 |url=http://dspace.stir.ac.uk/bitstream/1893/24906/1/2000%20prospects%20for%20hetecon%20in%20JHET.pdf |hdl-access=free |access-date=2019-09-19 |archive-date=2022-12-02 |archive-url=https://web.archive.org/web/20221202211818/https://dspace.stir.ac.uk/bitstream/1893/24906/1/2000%20prospects%20for%20hetecon%20in%20JHET.pdf |url-status=live }}</ref>

==Most recent developments==
Over the past two decades,{{when|date=August 2022}} the intellectual agendas of heterodox economists have taken a decidedly [[Epistemological pluralism|pluralist]] turn. Leading heterodox thinkers have moved beyond the established paradigms of Austrian, Feminist, Institutional-Evolutionary, Marxian, Post Keynesian, Radical, Social, and Sraffian economics—opening up new lines of analysis, criticism, and dialogue among dissenting schools of thought. This cross-fertilization of ideas is creating a new generation of scholarship in which novel combinations of heterodox ideas are being brought to bear on important contemporary and historical problems, such as socially grounded reconstructions of the individual in economic theory; the goals and tools of economic measurement and professional ethics; the complexities of policymaking in today's global political economy; and innovative connections among formerly separate theoretical traditions (Marxian, Austrian, feminist, ecological, Sraffian, institutionalist, and post-Keynesian) (for a review of post-Keynesian economics, see Lavoie (1992); Rochon (1999)).

[[David Colander]], an advocate of [[complexity economics]], argues that the ideas of heterodox economists are now being discussed in the mainstream without mention of the heterodox economists, because the tools to analyze institutions, uncertainty, and other factors have now been developed by the mainstream. He suggests that heterodox economists should embrace rigorous mathematics and attempt to work from within the mainstream, rather than treating it as an enemy.<ref>David Colander, 2007. [https://ideas.repec.org/p/mdl/mdlpap/0724.html Pluralism and Heterodox Economics: Suggestions for an “Inside the Mainstream” Heterodoxy] {{Webarchive|url=https://web.archive.org/web/20150630034826/https://ideas.repec.org/p/mdl/mdlpap/0724.html |date=2015-06-30 }}</ref>

Some schools of heterodox economic thought have also taken a transdisciplinary approach. [[Thermoeconomics]] is based on the claim that human economic processes are governed by the [[second law of thermodynamics]]. The posited relationship between economic theory, [[energy]] and [[entropy]], has been extended further by [[systems scientist]]s to explain the role of [[energy]] in [[biological evolution]] in terms of such economic criteria as [[productivity]], [[Economic efficiency|efficiency]], and especially the costs and benefits of the various mechanisms for capturing and utilizing available energy to build biomass and do work.<ref>{{cite journal |last1=Corning |first1=Peter A. |last2=Kline |first2=Stephen J. |title=Thermodynamics, information and life revisited, Part II: 'Thermoeconomics' and 'Control information' |journal=Systems Research and Behavioral Science |volume=15 |pages=453–82 |year=1998 |doi=10.1002/(SICI)1099-1743(199811/12)15:6<453::AID-SRES201>3.0.CO;2-U |issue=6}}</ref><ref>Peter A. Corning. 2002. “[http://www.complexsystems.org/abstracts/thermoec.html Thermoeconomics – Beyond the Second Law] {{webarchive|url=https://web.archive.org/web/20080922072349/http://www.complexsystems.org/abstracts/thermoec.html |date=2008-09-22 }}” – source: www.complexsystems.org</ref>

Various student movements have emerged in response to the exclusion of heterodox economics in the curricula of most economics degrees. The [[International Student Initiative for Pluralist Economics]] was set up as an umbrella network for various smaller university groups such as [[Rethinking Economics]] to promote pluralism in economics, including more heterodox approaches.

==Fields of heterodox economic thought==
{{cols|colwidth=18em}}
* [[Institutionalist political economy|American Institutionalist School]]
* [[Austrian School|Austrian economics]] '''#'''<ref>2003. ''A Companion to the History of Economic Thought''. Blackwell Publishing. {{ISBN|0-631-22573-0}} p. 452</ref>
* [[Binary economics]]
* [[Bioeconomics (biophysical)|Bioeconomics]]
* [[Buddhist economics]]
* [[Complexity economics]]
* [[Co-operative economics]]
* [[Distributism]]
* [[Ecological economics]] '''§'''
* [[Evolutionary economics]] '''#''' '''§''' (partly within mainstream economics)
* [[Econophysics]]
* [[Feminist economics]] '''#''' '''§'''
* {{Lang|de|[[Freiwirtschaft]]}}
* [[Georgism]]
* [[Gift Economy|Gift-based economics]]
* [[Green Economics]]
* [[Humanistic economics]]
* [[Innovation Economics]]
* [[Institutional economics]] '''#''' '''§'''
* [[Islamic economics]]
* [[Marxian economics]] '''#'''
* [[Mutualism (economic theory)|Mutualism]]
* [[Neuroeconomics]]
* [[Participatory economics]]
* [[Political Economy]]
* [[Post-Keynesian economics]] '''§''' including [[Modern Monetary Theory]] and [[Circuitism]]
* [[Post scarcity]]
* [[Pluralism in economics]]
* [[Post-scarcity economy|Resource-based economics]] – not to be confused with a [[resource-based economy]]
* [[Real-world economics]]
* [[Sharing economy|Sharing economics]]
* [[Socialist economics]] '''#'''
* [[Social economics]] (partially heterodox usage)
* [[Piero Sraffa#Sraffian economics|Sraffian economics]] '''#'''
* [[Technocracy]] ([[Energy Accounting]])
* [[Thermoeconomics]]
* [[Mouvement Anti-Utilitariste dans les Sciences Sociales]]
{{colend}}

'''#''' Listed in  [[Journal of Economic Literature]] codes
scrolled to at [[JEL classification codes#History of economic thought, methodology, and heterodox approaches JEL: B Subcategories|JEL: B5 – Current Heterodox Approaches]].

'''§''' Listed in ''[[The New Palgrave Dictionary of Economics]]''<ref>2nd Edition, v. 8, Appendix IV, p.&nbsp;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 {{Webarchive|url=https://web.archive.org/web/20130528102809/http://www.dictionaryofeconomics.com/search_results?edition=all&field=content&q=&topicid=B5 |date=2013-05-28 }}.</ref>

Some schools in the social sciences aim to promote certain perspectives: classical and modern [[political economy]]; [[economic sociology]] and [[economic anthropology|anthropology]]; gender and racial issues in economics; and so on.

===Notable heterodox economists===
{{cols|colwidth=18em}}
* [[Alfred Eichner]]
* [[Alice Amsden]]
* [[Aníbal Pinto Santa Cruz|Aníbal Pinto]]
* [[Anwar Shaikh (economist)|Anwar Shaikh]]
* [[Bernard Lonergan]]
* [[Bill Mitchell (economist)|Bill Mitchell]]
* [[Carlota Perez]]
* [[Carolina Cristina Alves|Carolina Alves]]
* [[Celso Furtado]]
* [[Dani Rodrik]]
* [[David Harvey]]
* [[Duncan Foley]]
* [[E. F. Schumacher]]
* [[Edward Nell]]
* [[Esther Dweck]]
* [[F.A. Hayek]]
* [[Frank Stilwell (economist)|Frank Stilwell]]
* [[Franklin Serrano]]
* [[Frederic Sterling Lee|Frederic S. Lee]]
* [[Frederick Soddy]]
* [[G.L.S. Shackle]]
* [[Hans Singer]]
* [[Ha-Joon Chang]]
* [[Heinz Kurz]]
* [[Henry George]]
* [[Herman Daly]] 
* [[Hyman Minsky]]
* [[Jack Amariglio]]
* [[Jeremy Rifkin]]
* [[Joan Robinson]]
* [[John Bellamy Foster]]
* [[John Komlos]]
* [[Joseph Schumpeter]]
* [[Karl Marx]]
* [[Kate Raworth]]
* [[Lance Taylor (economist)|Lance Taylor]]
* [[Ludwig Lachmann]]
* [[Ludwig von Mises]]
* [[Lyndon Larouche]]
* [[Maria da Conceição Tavares]]
* [[Mariana Mazzucato]]
* [[Mason Gaffney]]
* [[Michael Albert]]
* [[Michael Hudson (economist)|Michael Hudson]]
* [[Michael Perelman (economist)|Michael Perelman]]
* [[Michał Kalecki]]
* [[Murray Rothbard]]
* [[Mushtaq Khan (economist)|Mushtaq Khan]]
* [[Nelson Barbosa]]
* [[Nicholas Georgescu-Roegen]]
* [[Nicolaus Tideman]]
* [[Paul A. Baran]]
* [[Paul Cockshott]]
* [[Paul Sweezy]]
* [[Peter Navarro]]
* [[Piero Sraffa]]
* [[Rania Antonopoulos]]
* [[Raúl Prebisch]]
* [[Richard D. Wolff]]
* [[Robin Hahnel]]
* [[Ruy Mauro Marini]]
* [[Simon Zadek]]
* [[Stephanie Kelton]]
* [[Stephen Resnick]]
* [[Theotônio dos Santos]]
* [[Thorstein Veblen]]
* [[Tony Lawson]]
* [[Yanis Varoufakis]]
* [[Yusif Sayigh]]
{{colend}}

==See also==
{{div col|colwidth=18em}}
* [[Association for Evolutionary Economics]] 
* [[Degrowth]]
* [[EAEPE]]
* [[Foundations of Real-World Economics]]
* [[Happiness economics]]
* [[Humanistic economics]]
* [[Kinetic exchange models of markets]]
* [[Pluralism in economics]]
* [[Post-autistic economics]]
* [[Post-growth]]
* [[Real-world economics review]]
* [[Real-world economics]]
{{div col end}}

==References==
{{Reflist}}

==Further reading==

===Articles===
* {{cite journal |last1= Bauer |first1= L. |last2= Matis |first2= H.|year = 1988 |title = From moral to political economy: The Genesis of social sciences. |journal = History of European Ideas |volume = 9 |issue = 2 |pages = 125–143 |doi= 10.1016/0191-6599(88)90035-6 |url = }}
* {{cite journal |last1= Dequech |first1= David |year = 2007 |title = Neoclassical, mainstream, orthodox, and heterodox economics |journal = Journal of Post Keynesian Economics |volume = 30 |issue = 2 |pages = 279–302 |doi= 10.2753/PKE0160-3477300207 |s2cid= 153773877 |url = }}
* {{cite journal |last1= Flaherty |first1= Diane |year = 1987 |title = Radical political economy |journal = The New Palgrave: A Dictionary of Economics |volume = 4 |issue =  |pages = 36–39 |url = }}
* {{cite journal |last1= Lee |first1= Frederic. S. |year = 2008 |title = Heterodox economics |journal = The New Palgrave Dictionary of Economics |volume = 2 |issue =  |pages = 1–7|doi= 10.1057/978-1-349-95121-5_2487-1 |isbn= 978-1-349-95121-5 |url =http://www.dictionaryofeconomics.com/article?id=pde2008_H000175&q=heterodox%20economics&topicid=&result_number=1 }}

===Books===
* Jo, Tae-Hee, Chester, Lynne, and D'Ippoliti. eds. 2017. [https://www.routledge.com/The-Routledge-Handbook-of-Heterodox-Economics/Jo-Chester-DIppoliti/p/book/9781138899940 ''The Routledge Handbook of Heterodox Economics'']. London and New York: Routledge. {{ISBN|978-1138899940}}. 
* {{Cite book |last=Crozier |first=John Beattie |url=https://archive.org/details/wheelofwealthbei00croz |title=The Wheel of Wealth: Being a Reconstruction of the Science and Art of Political Economy on the Lines of Modern Evolution |publisher=Longmans, Green & Co. |year=1906 |location=London}}
* Gerber, Julien-Francois and Steppacher, Rolf, ed., 2012. [http://www.palgrave.com/products/title.aspx?pid=521017 Towards an Integrated Paradigm in Heterodox Economics: Alternative Approaches to the Current Eco-Social Crises]. Palgrave Macmillan. {{ISBN|978-0230303584}}
* Lee, Frederic S. 2009. [http://www.routledge.com/books/details/9780415777148 A History of Heterodox Economics Challenging the Mainstream in the Twentieth Century]. London and New York: Routledge. 2009 {{ISBN|978-0415777148}}
<!-- * Arestis, Philip; Sawyer, Malcolm C., [https://books.google.com/books?id=Gi1-hW3cfo4C A Biographical Dictionary of Dissenting Economists], 2000, pp. 736, {{ISBN|978-1-85898560-2}} -->
<!-- * Blatt, John Markus:, 1983, ''Dynamic Economic Systems: A Post-Keynesian Approach'', Armonk.  {{ISBN|0710802730}}
* Cohn, Steven Mark, 2006. [http://www.mesharpe.com/mall/resultsa.asp?Title=Reintroducing+Macroeconomics%3A+A+Critical+Approach COHN, ''Reintroducing Macroeconomics: A Critical Approach.''] M. E. Sharpe, Inc, December. {{ISBN|978-0765614506}} {{ISBN|978-0765614513}}
*  Davis, John, ed., 2003. [https://books.google.com/books?id=XnHERR2uQ1MC&dq=heterodox+economics+book  ''The Theory of the Individual in Economics: Identity and Value.''] Routledge.  {{ISBN|0415202191}}
*  Fullbrook, Edward, 2004. [http://www.accessmylibrary.com/coms2/summary_0286-17616611_ITM  editor. ''A Guide to What’s Wrong with Economics.''  London: Anthem Press, November ] {{ISBN|1843311488}} -->
* Harvey, John T. and Garnett Jr., Robert F., ed., 2007. [http://www.press.umich.edu/titleDetailDesc.do?id=171896   ''Future Directions for Heterodox Economics'', Series Advances in Heterodox Economics, The University of Michigan Press.] {{ISBN|978-0472032471}}
*[https://www.amazon.com/Every-Economics-Student-Doesnt-Principles/dp/0765639238/ref=sr_1_1?ie=UTF8&qid=1541813026&sr=8-1&keywords=What+Every+Economics+Student+Needs+to+Know '' What Every Economics Student Needs to Know.'']. Routledge 2014. {{ISBN|9780765639233}}
<!-- *  Lavoie, M., 1992. ''Foundations of Post-Keynesian Economic Principles'', Aldershot: Edward Elgar. -->
*  McDermott, John, 2003. ''Economics in Real Time: A Theoretical Reconstruction, Series Advances in Heterodox Economics'', The University of Michigan Press. {{ISBN|978-0472113576}}
<!-- * Rochon, Louis-Philippe, 1999. ''Credit, Money and Banking: An Alternative Post-Keynesian Approach'', Cheltenham: Edward Elgar. -->
* Rochon, Louis-Philippe  and Rossi, Sergio, editors, 2003. [http://www.economics.laurentian.ca/lprochon/ModernTheoriesofMoney.  '' Modern Theories of Money: The Nature and Role of Money in Capitalist Economies''. Edward Elgar Publishing.]{{Dead link|date=January 2020 |bot=InternetArchiveBot |fix-attempted=yes }} {{ISBN|1840647892}}
* {{cite news|title=The Wide, Wide World Of Wealth (''The New Palgrave: A Dictionary of Economics'''. Edited by John Eatwell, Murray Milgate and Peter Newman. Four volumes. 4,103 pp. New York: Stockton Press.)|last=Solow|first=Robert M.|author-link=Robert M. Solow|date=20 March 1988|journal=New York Times|url=https://www.nytimes.com/1988/03/20/books/the-wide-wide-world-of-wealth.html?scp=1}}
<!-- *Stanfield, J. R. 1979. Economic Thought and Social Change. Carbondale, IL: Southern Illinois University Press. {{ISBN|978-0809309146}}
* Stanfield, J. R. 1986. The Economic Thought of Karl Polanyi. London: Macmillan Press and New York: St. Martin's Press {{ISBN|978-0312236588}}
* Stanfield, J.R. 1995. Economics, Power, and Culture: Essays in the Development of Radical Institutionalism. London: Macmillan Press. {{ISBN|978-0312122089}} -->
* {{cite journal|title=Palgrave's Dictionary of Economics|first=George J.|last=Stigler|author-link=George Stigler|journal=Journal of Economic Literature|volume=26|date=December 1988|pages=1729–36|jstor=2726859|issue=4}}
* [[Frank Stilwell (economist)|Stilwell, Frank]]., 2011. ''Political Economy: The Contest of Economic Ideas''. Oxford University Press. {{ISBN|978-0195514582}}
* [[Foundations of Real-World Economics]]: What Every Economics Student Needs to Know, 2nd edition, Abingdon-on-Thames, UK: Routledge: 2019.

===Articles, conferences, papers===
* Lavoie, Marc, 2006. [https://web.archive.org/web/20120111143131/http://www.journal-intervention.org/seiten/englisch/download/Lavoie_Intervention_Vol_3_No_1_2006.pdf  ''Do Heterodox Theories Have Anything in Common? A Post-Keynesian Point of View.'']
* Lawson, Tony, 2006.  "The Nature of Heterodox Economics," ''Cambridge Journal of Economics'', 30(4), pp.&nbsp;483–505. [https://web.archive.org/web/20070926134829/http://www.bresserpereira.org.br/Terceiros/05.5.Heterodox_Economics.pdf Pre-publication copy.]

===Journals===
*  [https://web.archive.org/web/20141108144005/https://www.jstage.jst.go.jp/browse/eier ''Evolutionary and Institutional Economics Review''] 
*  ''Journal of Institutional Economics''
*  [https://web.archive.org/web/20050706113055/http://cje.oxfordjournals.org/ ''Cambridge Journal of Economics'']
*  [http://www.paecon.net/PAEReview/ ''Real-world economics review'']
*  [http://www.inderscience.com/jhome.php?jcode=ijpee ''International Journal of Pluralism and Economics Education'']
*  [https://journals.sagepub.com/home/rrp ''Review of Radical Political Economy'']

==External links==
* [http://hetecon.net/ Association for Heterodox Economics]
* [http://www.heterodoxnews.com/ Heterodox Economics Newsletter]
* [http://www.heterodoxnews.com/hed Heterodox Economics Directory (Graduate and Undergraduate Programs, Journals, Publishers and Book Series, Associations, Blogs, and Institutions and Other Web Sites)]
* [http://www.afee.net Association for Evolutionary Economics (AFEE) ]
* [http://icape.org/ International Confederation of Associations for Pluralism in Economics (ICAPE)]
* [http://urpe.org/ Union for Radical Political Economics (URPE)]
* [http://socialeconomics.org/ Association for Social Economics (ASE)]
* [http://www.postkeynesian.net/ Post-Keynesian Economics Study Group (PKSG)]

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