Heterodox schools

Heterodox schools are alternative approaches within economics that challenge mainstream ideas. While traditional economics often focuses on models like supply and demand or market equilibrium, heterodox schools explore diverse perspectives, emphasizing social, political, and behavioral factors. They include traditions like Marxism, Keynesianism, and institutional economics, which analyze how power, history, and institutions influence economic outcomes. These schools aim to provide a broader understanding of economic complexities, often advocating for policies that promote social equity and addressing issues mainstream economics may overlook.