September 19, 2009

No Room for Heterodox Economics

Notre Dame Plans to Dissolve the 'Heterodox' Side of Its Split Economics Department.

Does merely the inability to produce large number of top PhD students mean a failure for a university department? Does the fact that nowadays the field of economics is overwhelmed by neoclassicism and econometrics mean that these are the only and correct ways to do economics? Having just gone through an economic crisis that is rarely seen throughout decades, why cannot people demonstrate some openness toward a wider array of methods to study economics? A university can teach both traditional and modern medicine, then why not both mainstream and heterodox economics?

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