Heterodox Economists

Definition

Economists who embrace alternative views or approaches outside mainstream (orthodox) economics. They often critique standard theoretical models used in mainstream economics from various perspectives.

Analogy

Heterodox Economists are like indie filmmakers in the movie industry. They don't follow the mainstream trends and often bring unique, innovative ideas to the table that challenge traditional ways of thinking.

Related terms

Marxist Economics: An economic theory based on the works of Karl Marx which critiques capitalism and advocates for workers' rights and social equality.

Feminist Economics: A field of economics that critically analyzes gender inequalities in economic systems and policies, advocating for gender equity in economic life.

Institutional Economics: This branch of economics focuses on understanding the role of institutions (rules, regulations, norms) in shaping economic behavior.