ABSTRACT
The term heterodox economics refers to an approach to economic analysis that, following the global financial crash and the repeated failures of policies based on standard neoclassical economic analysis, is being embraced by an increasing number of economists. To grasp what this term means, note first that the prefix “hetero” has its origins in ancient Greek, where it means “other” or “dierent.” The word “doxy” refers to a doctrine, a framework of analysis, or what many social scientists would call a paradigm. Heterodoxy is a paradigm that recognizes ideas, perspectives, and models that go well beyond the very limited perspectives of orthodox economic analysis.
