What defines a heterodox school of economic thought? This paper explores the variety within contemporary economics, addressing the challenge of distinguishing between dissent within the mainstream and dissent from it. It argues that a heterodox school must satisfy three key criteria, offering a framework for understanding different economic perspectives. The article delves into the characteristics that set heterodox economics apart, providing a basis for classifying various schools of thought. It examines how these criteria apply to existing heterodox approaches, offering insights into their development and influence. The discussion touches upon the historical context and the evolution of heterodox economics, highlighting its role in challenging conventional wisdom. By establishing clear criteria for identifying heterodox schools, this paper contributes to a more nuanced understanding of economic thought. It encourages critical engagement with different perspectives and promotes a broader view of economic theory and practice. The findings are relevant for researchers, policymakers, and anyone seeking a more comprehensive understanding of the field.
This paper, published in the Journal of the History of Economic Thought, directly aligns with the journal's focus on the evolution and development of economic ideas. By examining the defining characteristics of heterodox economics, the article contributes to the journal's ongoing exploration of different schools of economic thought and their historical context. The references provided demonstrate a connection to previous discussions within the journal and related publications.