Sunday, August 10, 2025

David Fields' heterodox economic manifesto

From the introduction:

"Mainstream orthodox economics, that is, marginalism, constitutes a hegemonic dogma. This has resulted in significant fragmentation and diminishment of intellectual horizons, leading to the systematic neglect of alternative, more perspicacious approaches and, thus, oversight of the real-world. Consequently, the discipline, despite its assertions of scientific rigor, proves inadequate in addressing the most pressing societal challenges, namely, sustained and avoidable economic hardship, manifested by pervasive unemployment, underemployment, discrimination, alienation, income inequality, ecological disaster, war, genocide, and poverty, to name a few.

A manifesto is essential, one that articulates heterodox economics as the potent, reality-grounded alternative. This approach is predicted on a fundamentally different understanding of economic reality, knowledge acquisition, and practical action aimed at fostering a socially just world that maximizes human potential. Fundamentally, it endeavors to synthesize and integrate ideas to forge a more comprehensive and efficacious economic science."

Read rest here

PS: My own take on the subject here

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