The future of heterodox economics

This paper assesses economics research and teaching frameworks in the United States by examining how knowledge is produced; the strengths and flaws of heterodox economic theory; and how students are trained, especially for careers in economic policy. We challenge the meaning of established terminology such as 'heterodoxy' and 'mainstream.' Three major reasons are suggested for the disappointing reality that pluralist economics among academic institutions, the broader public, and a new generation of economists has not happened: 1) neoclassical hegemony; 2) weakness in heterodox theory, and 3) rigidity of pedagogy and training in economics.