A History of Heterodox Economics: Challenging the mainstream in the twentieth century, 1st Edition (Paperback) book cover

A History of Heterodox Economics

Challenging the mainstream in the twentieth century, 1st Edition

By Frederic Lee


358 pages

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Economics is a contested academic discipline between neoclassical economics and a collection of alternative approaches, such as Marxism-radical economics, Institutional economics, Post Keynesian economics, and others, that can collectively be called heterodox economics. Because of the dominance of neoclassical economics, the existence of the alternative approaches is generally not known. This book is concerned with the community history of heterodox economics, seen primarily through the eyes of Marxian-radical economics and Post Keynesian economics.

Throughout the 20th century neoclassical economists in conjunction with state and university power have attacked heterodox economists and tried to cleanse them from the academy. Professor Lee, his groundbreaking new title discusses issues including the contested landscape of American economics in the 1970s, the emergence and establishment of Post Keynesian economics in the US and the development of heterodox economics in Britain from 1970 to 1996.


'Fred Lee is an international treasure to heterodox economics, and this book is a treasure chest for heterodox economists, carefully laying out where we have come from and what we are up against. It is imperative reading for all of those concerned to offer alternatives to an intellectually bankrupt and intolerant mainstream.' -- Ben Fine (SOAS, University of London, UK)

'Fred Lee has his finger on the pulse of heterodox economics. This book will be of interest to anyone concerned with heterodox economics, its history, and its future. In documenting some of the little-known history of heterodox economics in the 20th century, Fred Lee has created a valuable work that fills a major gap in the literature.' -- Geoffrey Schneider (Bucknell University, USA)

'Fred Lee is a passionate and tireless proponent of heterodox economics, both in his organizational and scholarly activities. In this book the two sets of activities come together. Lee provides an excellent discussion of the history of heterodox economics in context of the organizations and networks of the economics discipline.' -- Wilfred Dolfsma (Utrecht University, the Netherlands)

'For decades, Lee has been meticulously documenting the marginalization and even exclusion of heterodox economics in the US and the UK. At last, he has put together his long-awaited, encyclopedic survey of the field. However, this book reads well, not like a dry encyclopedia. Lee adds color by introducing his reader to many of the scholars in order to give a context to their work. … This book deserves the widest possible circulation. … Highly recommended. -- CHOICE, M. Perelman (California State University)

Table of Contents

1. Introduction Part I: Heterodox Economics in the United States 2. The Contested Landscape and Dominance in American Economics In the 20th Century 3. Heresy, Blasphemy, and Radical Economics in Post-War America, 1945 – 1970 4. The Contested Landscape of American Economics circa 1965 – 1980 5. The History of Post Keynesian Economics in America, 1971 – 1995 Part II Heterodox Economics in the United Kingdom 6. The Contested Landscape of British Economics, 1900 – 1970 7. Heterodox Economics in Britain, 1970 – 1996 8. Research Assessment Exercise and its Impact on Heterodox Economics,

1989 – 1996 9. Research Assessment Exercise, the State, and the Dominance of Mainstream Economics in British Universities, 2000 – 2003 Part III Heterodox Economics at the Beginning of the 21st Century 10. The Emergence of Heterodox Economics, 1990 - 2006 11. Ranking Heterodox Economic Journals and Departments: Suggested Methodologies

About the Author

Frederic Lee is Professor of Economics at University of Missouri-Kansas City, USA.

About the Series

Routledge Advances in Heterodox Economics

Over the past two decades, the intellectual agendas of heterodox economists have taken a decidedly pluralist turn.  Leading thinkers have begun to move beyond the established paradigms of Austrian, feminist, Institutional-evolutionary, Marxian, Post Keynesian, radical, social, and Sraffian economics—opening up new lines of analysis, criticism, and dialogue among dissenting schools of thought.  This cross-fertilization of ideas is creating a new generation of scholarship in which novel combinations of heterodox ideas are being brought to bear on important contemporary and historical problems.

Routledge Advances in Heterodox Economics aims to promote this new scholarship by publishing innovative books in heterodox economic theory, policy, philosophy, intellectual history, institutional history, and pedagogy.  Syntheses or critical engagement of two or more heterodox traditions are especially encouraged.

Learn more…

Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Economic History
BUSINESS & ECONOMICS / Economics / General
BUSINESS & ECONOMICS / Economics / Theory