Sunday, May 27, 2007

Do I exist? Heterodoxy and the Free Market (amv)

According to Christopher Hayes' recent article in The Nation heterodox economics is surpressed by the orthodoxy. Well, by definition this is true. What strikes me, however, is that orthodoxy is seen to be neoclassical economics in staunch defense of free markets. Accordingly, heterodoxy is the economics of wise interventionism. ... Mmmh ... I am heterodox (Austrian) and a free-market guy! According to Mr. Hayes I do not exist! That's pretty depressing.

p.s.: Is Stiglitz orthodox or heterodox? He must be orthodox because he employs the tools of neoclassics ... but wait, he also must be heterodox because he argues against the unhampered market. It seems that Mr. Hayes' classification is rather odd. Puh ... that's good news for me. After all, I propably do exist.