Friday, December 30, 2011
Posted by dkuehn at 10:16 AM
Commenter Prateek Sanjay writes:
"While Steve Keen may say that mainstream economics is an emperor without clothes, it would seem to me that much of heterodox economics is the peasant that everyone knew was always naked."
I agree with the broad sentiment and caution about heterodox economics, but I'm reluctant to say it quite so forcefully myself. Commenter Blue Aurora was once surprised at a statement I made once that seemed to embrace some heterodox position, and then proceeded to ask my why it is I consider myself "orthodox" and "neoliberal". My response to him was that "mine is a promiscuous orthodoxy".
Look, most people that spend a lot of time thinking about this stuff are thoughtful people and they have good ideas. If you spend a lot of time thinking and talking about what other people think, and if you're not a complete jackass, you're going to find lots of things to appreciate in the insights of others. The reason why I appreciate a lot of heterodox economics is precisely the same reason why I agree with Prateek about the absurdity of a lot of heterodox swipes at orthodox economics: people that spend time thinking about this sort of stuff usually aren't as slow as you think they are.