HETERODOX ECONOMICS: MAIN DIRECTIONS AND PROBLEMS OF RESEARCH

Igor' Geraschenko

doi:10.52957/2221-3260-2024-12-12-21

VAK Russia 5.2.1 VAK Russia 5.2.5

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HETERODOX ECONOMICS: MAIN DIRECTIONS AND PROBLEMS OF RESEARCH

Published in Theoretical economics · Issue 12 · Pages 12–21 · Rubric: ACTUAL PROBLEMS OF THEORETICAL ECONOMY

DOI: https://doi.org/10.52957/2221-3260-2024-12-12-21

Received: 10.12.2024 Accepted: 19.12.2024 Published: 16.01.2025

Authors

Igor' Geraschenko

Academic degree: doctor of philosophical sciences

Science rang: professor

The Russian Presidential Academy of National Economy and Public Administration professor · Department of Sociology, General and Southern Department of Sociology. · Russian Federation · Moscow

ABSTRACT

Modern economic theory is represented by two main directions (orthodox and heterodox), fundamentally different approaches to the analysis of market relations. The modern multipolar world is characterized by the absence of linear unidirectional development. The liberal-economic mainstream, which is the basis of market globalization, finds more and more critics in its address. In this regard, the theoretical critique of econometrics is of particular relevance. The aim of the article is to study the main directions of heterodox economics and its critique of the main provisions of econometrics. The objectives of the study are aimed at: studying the main directions of alternative economic theory, finding out the features of each direction of heterodox economics in the context of criticism of liberal economic theory, determining the positive content of alternative economic theory for solving urgent problems of modern economics, analyzing the interaction between the currents of heterodox economics and the prospects of its development. The following directions of alternative economic theory are studied: the new Austrian school, radical political economy, modern institutionalism, post-Keynesianism, traditionalist economics, natural-scientific economics, economic economics, feminist economic theory. It is shown that alternative economics reveals real problems of liberal-market doctrine. At the same time, each current of heterodox economics criticizes not only economics, but also other directions of modern economic theory. Based on this, it is concluded that alternative economics, in general, has a high level of problematic and prioritizes the critical approach. At the same time, each theory develops its own original approach to solving modern economic problems. Within the framework of economics, it is not possible to give a reasoned answer to most of the problems posed by heterodox economics. This indicates the need to create a new economic theory synthesizing orthodox and unorthodox doctrines.

KEYWORDS

heterodox economics, orthodox economics, alternative economic theory, new Austrian school, radical political economy, modern institutionalism, post-Keynesianism, economic economics, traditionalist economics, natural science economics, feminist economic theory

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GOST

Geraschenko I. G. HETERODOX ECONOMICS: MAIN DIRECTIONS AND PROBLEMS OF RESEARCH // Theoretical economics. 2024. no. 12. pp. 12-21. DOI: https://doi.org/10.52957/2221-3260-2024-12-12-21. (Date of access 28.10.2026).

MLA

Igor' Geraschenko. "HETERODOX ECONOMICS: MAIN DIRECTIONS AND PROBLEMS OF RESEARCH." Theoretical economics.12 (2024): 12-21. DOI: https://doi.org/10.52957/2221-3260-2024-12-12-21.

APA

Geraschenko I. G. (2024). HETERODOX ECONOMICS: MAIN DIRECTIONS AND PROBLEMS OF RESEARCH. Theoretical economics(12), 12-21. https://doi.org/10.52957/2221-3260-2024-12-12-21

Chicago

Igor' Geraschenko. "HETERODOX ECONOMICS: MAIN DIRECTIONS AND PROBLEMS OF RESEARCH." Theoretical economics, no. 12 (2024): 12-21. https://doi.org/10.52957/2221-3260-2024-12-12-21.

WIKI

{{cite journal | author = Geraschenko I. G. | title = HETERODOX ECONOMICS: MAIN DIRECTIONS AND PROBLEMS OF RESEARCH | journal = Theoretical economics | year = 2024 | issue = 12 | pages = 12-21 | doi = 10.52957/2221-3260-2024-12-12-21 }}

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