Frederic S. Lee and His Fight for the Future of Heterodox Economics
DOI:
https://doi.org/10.13133/2037-3643_69.278_3Keywords:
Frederic S. Lee, Heterodox EconomicsAbstract
Frederic S. Lee (1949-2014) was a dedicated captain of the heterodox economics movement over the past thirty years. In the course of his unfaltering fight for the future of heterodox economics, Lee contributed to both the development of heterodox microeconomic theory and the establishment of a global community of heterodox economists. This short tribute delineates Lee’s unique and important contribution, which should be remembered and renewed. As a heterodox microeconomist, Lee challenged the neoclassical price mechanism that is theoretically incoherent and empirically invalid. At the same time, he was critical of any heterodox theory that does not add to our understanding of how the capitalist economy actually works. He urged heterodox economists to build a better theory, which goes beyond the conventional micro-macro divide, to question the status quo of capitalism by examining underlying causal mechanisms and agency, and to communicate with others in different theoretical traditions in order to make heterodox economics more pluralistic and integrative. At the same time, he fought tirelessly to build institutions under the conviction that the future of heterodox economics lies in the strategic (and unselfish) actions of present heterodox economist.
JEL: B50, D01, D40
References
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