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A Neoclassical Curmudgeon Looks at Heterodox Criticisms of Microeconomics

Donald W. Katzner

Abstract

The purpose of this paper is to open a dialogue with heterodox economists about what, from a neoclassical perspective, is valid in heterodox criticisms of neoclassical microeconomics. Many heterodox criticisms of neoclassical microeconomics are valid to a neoclassicist; but some are not. Examples of both are given, mostly taken from E. Fullbrook’s anthology, A Guide to What’s Wrong with Economics, (London: Anthem, 2004). And neoclassical reasons for a lack of validity where that arises are provided. Both criticisms and the judgment of their validity can be subjective or objective.

Published on 9 Feb 2015 in World Social and Economic Review No 4, 2015