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I think we may have to reassess questions like this because neoclassical
economics is really a contested term, as Mirowski highlights in his new
book. For example, are Stiglitz and Lucas mainstream --- certainly; does it
make sense to refer to them as reflecting a single style of thought;
certainly not.
Economists now talk about institutions more than ever, economic history
work is being published in the top journals, discussions of innovation and
creativity within markets is discussed regularly. And non-market
institutions are being addressed.
We who are heterodox might not always like the _way_ these things are being
discussed, but it would be foolish for us to deny that heterodox themes are
not being addressed, and silly not to recognize that the very idea of a
"neclassical" hegemony is something that passed into history in the 1980s.
We are contending now with a totally different beast and it is unclear how
to effectively wrestle with it if that was one's design.
Peter J. Boettke
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