The Orthodox Economics “Mafia”

Michael Stephens | January 13, 2012

Randall Wray passes on this piece by Chris Hayes (of The Nation and MSNBC) on the challenge mounted by heterodox economists to the neoclassical consensus.  Reporting from the ASSA, Hayes gets into the ways in which the boundaries of the “mainstream” are policed in economics.  It’s really worth reading the whole thing.  I particularly liked this bit:

Despite the fact that as many as one in five professional economists belongs to a professional association that might be described as heterodox, the phrase “heterodox economics” has appeared exactly once in the New York Times since 1981. During that same period “intelligent design,” a theory endorsed by not a single published, peer-reviewed piece of scholarship, has appeared 367 times.


2 Responses to “The Orthodox Economics “Mafia””

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  1. Comment by Rodger Malcolm MitchellJanuary 14, 2012 at 8:51 am   Reply

    I wonder how often “Monetary Sovereignty,” the basis for all current economics, has appeared.

  2. Comment by beowulf — January 15, 2012 at 4:07 pm   Reply

    So start calling yourself an “intelligent design” (as opposed to laissez faire?) economist.

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