Birth Control for the Mainstream

[enilsson@xxxxxxxxxxxxxxx (Eric Nilsson)]

J. Galbraith writes:

>Gintis, Nilsson and Toruno are wet blankets, in my collegial opinion. None
>would lift a pen to defend the pure formalisms of general equilibrium theory .
>. . . But faced with a truly original critique -- I refer specifically
> to "more Heat than Light"-- they moan that they have heard too many
critiques >and want something constructive for a change!

I didn't intend to imply that Mirowski was not worthy of being read or of
being discussed -- far from it.

J. Galbraith points out an additional issue which has not before been fully
addressed: who critiques of mainstream economics are addressed to.  For
instance, it is possible that mainstream economists might not react to a
particular critique but that this same critique might be used to convince
others (beginning economists or non-economist social scientists) that the
mainstream theory has many big weaknesses.  Such critiques might not change
how mainstream theory is done, but it might reduce the population of true
believers.  (Birth control for the mainstream?)

Yet another interesting point raised by J. Galbraith's message is the
question of what an alternative theory would look like.  Would it indeed
have to be something that "thoroughly escapes the orbit of the neoclassical
equilibrium framework"?  What would such a thing look like?  Do we desire to
do such a thing?  Must all parts of neoclassical economics be junked? Is
anything worth keeping?  I certainly don't know the answer and I'm sure
there are at least as many answers as there are heterodox economists.

I'm sure that most people would agree that just because mainstream
economists do it (use certain tools) or say it (reach certain conclusions),
that heterodox economists can't use these same tools or say these things.
Obviously just because mainstream economists use math and econometrics this
does not mean that heterodox economists cannot also.


Eric Nilsson
Department of Economics
California State University, San Bernardino
enilsson@xxxxxxxxxxxxxxx
909-880-5564