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From:
[log in to unmask] (Fred Carstensen)
Date:
Fri Mar 31 17:18:49 2006
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Lee, Frederic wrote:  
First heterodox economics roughly defines economics as examining and explaining the social
provisioning process.  Of course within this approach agents make decisions but how they
make them is outside the approach used in mainstream economics: people make
decisions/choices but they are not neoclassical decisions/choices.  However making
decisions is just one small component of the social provisioning process and hence one
small component of heterodox economics.  Secondly, by framing the discussion in terms of
economics as a theory of choice with constraints, the exclusion of heterodox
economics/economists from the discussion is not unexpected (if not undesired).
  
  
  
Who said a theory of choice meant individual choice?  "Social   
provisioning" necessarily means a whole series of social choices,   
including the degree to which individuals will enjoy discretion in   
their individual decisions.  I do not see how a theory of choice   
broadly conceived excludes heterodox economics at all.  On the   
contrary, I think such an approach reveals the inadequacy of   
neoclassical theory.  
  
Fred Carstensen  
  
  
 

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