The Responsibilities of the Heterodox

The video explores the need for a self-conscious heterodoxy in economics, emphasizing the importance of consistent frameworks and empirical evidence. It discusses post Keynesian economics, the limits and conflicts within capitalist systems, and the responsibility of new generations to question and learn from past economic theories. The speaker urges against eclectic approaches and highlights the importance of understanding economic history and theory.

What is the main question posed about heterodoxy in economics?

• Whether it should ignore empirical evidence

• If it should focus solely on microeconomics

• How to integrate it with classical economics

• Whether it should completely reject orthodox approaches

What is emphasized as crucial when working with a consistent economic framework?

• Ignoring empirical evidence

• Mixing different theoretical foundations

• Focusing only on microeconomics

• Confronting empirical evidence and arguments

What is a potential consequence of raising wages according to the discussion?

• It always leads to inflation

• It has no effect on the economy

• It can increase aggregate demand

• It always benefits firms

What is highlighted as a key responsibility for young economists?

• To question existing theories without understanding them

• To learn from historical and theoretical contexts

• To create new theories without reference to the past

• To focus only on modern economic issues

Why is it important to avoid eclectic approaches in economics?

• They are always outdated

• They can lead to inconsistent theories

• They are too complex to understand

• They focus too much on empirical evidence

What does the speaker compare economics to, in terms of responsibility?

• A historical analysis

• A type of social surgery

• A mathematical puzzle

• A form of art

What is the speaker's view on mixing social life concepts with neoclassical theory?

• It is beneficial for economic understanding

• It leads to a more comprehensive theory

• It is necessary for modern economics

• It results in inconsistent conceptions