Rejection of Neoclassical Economics
There is no single "heterodox economic theory"; there are many different "heterodox theories" in existence. What they all share, however, is a rejection of the neoclassical orthodoxy as representing the appropriate tool for understanding the workings of economic and social life. The reasons for this rejection may vary. Some of the elements commonly found in heterodox critiques are listed below.
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“He began therefore to invest the fortress of my heart by a circumvallation of distant bows and respectful looks; he then entrenched his forces in the deep caution of never uttering an unguarded word or syllable. His designs being yet covered, he played off from several quarters a large battery of compliments. But here he found a repulse from the enemy by an absolute rejection of such fulsome praise, and this forced him back again close into his former trenches.”
—Sarah Fielding (1710–1768)
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—James Thurber (1894–1961)