Heterodox Economics and the Economics of Harm Lane VandersliceJournal of Economic Issues June 2022 (15 page PDF download) Much of heterodox economics, such as institutional, feminist, and conflict economics, has focused on major areas of harm, developing and strengthening the analysis of harm. The two costs have been terminologies which differ among the various approaches and the (unmet) need to bring the approaches together in an overall view of harm. Heterodox economics (and the relatively few orthodox authors) are on the right track in understanding productive + harmful economic systems while orthodox economics, as shown by its textbooks, is not. Yet the wrong approach is the dominant one. Will the truth win out?
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Orthodox Economics and the Economics of Harm Lane VandersliceJournal of Economic Issues September 2021 Access to 17 page PDF file of the pre-publication article below. Orthodox economics understands productive activity, which obtains income by benefiting others, but does not have an adequate conception of activity which obtains income by harming others. There is a broad and important range of activities which obtain income by harming others. This paper considers the analysis of some of these including conflict theory, rent-seeking, corruption, harm of workers, consumers, and nature, economic historians’ consideration of extractive political and economic institutions, and the varieties of discrimination. The omission of harm is evident in undergraduate textbooks in microeconomics and public economics. The fundamental political economic system of past and present, a productive plus harmful one, is not being taught to economics students.
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