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From Economics to Political Economy: Contradictions, Challenge, and Change
Author(s) -
Stilwell Frank
Publication year - 2019
Publication title -
american journal of economics and sociology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.199
H-Index - 38
eISSN - 1536-7150
pISSN - 0002-9246
DOI - 10.1111/ajes.12259
Subject(s) - mainstream , mainstream economics , politics , heterodox economics , economics , schools of economic thought , positive economics , economics education , neoclassical economics , political economy , sociology , political science , higher education , applied economics , economic growth , law
The nature of the challenge to mainstream economics needs to be carefully considered. This article presents an overview of the challenge, emphasizing that it is not just a matter of heterodox economists developing non‐neoclassical economic theories. The embrace of a pluralist method and pedagogy is equally significant. The development of a transdisciplinary approach adds further to the breadth of the challenge. Weaving these elements together as political economy provides an alternative paradigm to mainstream economics. Extending its influence requires focus on adult education, the media, and public policy, as well as sustained efforts within universities.