On the mediocrity of Heterodox Economics

Ann Pettifore’s recent article linked to Richard Portes’ statement about heterodox economics.

http://www.guardian.co.uk/commentisfree/2009/feb/26/recession-economy-capitalism

Portes, Richard. 2008. “The Annual Report of the Secretary-General (of the Royal Economic Society).
http://www.res.org.uk/society/pdfs/newsletter/apr08.pdf

“Mediocrity is rationalised on the grounds that it is hard for the ‘heterodox’ to publish in top journals — despite the examples of Joseph Stiglitz, Amartya Sen, Herbert Simon, Samuel Bowles, Herbert Gintis, and many others.”

Consider his list of Heterodox economists. Herbert Simon? There is some overlap there, but he ceased to do economics and moved on to other fields. Joe Stiglitz did good stuff before he became active in public debates, but I think most economists would regard his more policy-oriented work as belonging in top journals. Amartya Sen also does interesting work, but has he ever been associated with the left.

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