Heterodox economics challenges conventional economics, including the neoclassical synthesis and rational choice theory. It encompasses various schools of thought that reject mainstream economic thinking and methodology. Many heterodox economists criticize the definition and scope of the economy and the assumption of rational decision-making. Heterodox economics includes methods and theories outside of conventional economics. It is […]

Heterodox economics challenges traditional economic theories and methods, including the neoclassical synthesis and rational choice theory. It encompasses various schools of thought that disagree with each other and reject mainstream economics’ assumptions about individual behavior and the definition of the economy. Many heterodox economists argue that the economy is difficult to track and that people’s […]