August 20, 2016

Economics: A map for the perplexed

Comment on Matias Vernengo on ‘Noah Smith on heterodox models’

Blog-Reference and Blog-Reference on Aug 21 adapted to context

Noah Smith asserts: “So heterodox economics hasn’t really produced a replacement for mainstream macro.” This is true for traditional Heterodoxy but not for constructive Heterodoxy.

The whole truth is that Walrasianism, Keynesianism, Marxianism, Austrianism is PROVABLE false, i.e. materially and formally inconsistent. It is not just about Orthodoxy and Heterodoxy.

For a stylized map of current economics see Wikimedia. See also post ‘From Orthodoxy to Heterodoxy to Sysdoxy’ and cross references Paradigm shift.

Egmont Kakarot-Handtke