A Case of Confirmation Bias. Issue 3 (3rd July 2021)

• Record Type: Journal Article
• Authors: Chester, Lynne
• Is Part Of: Journal of economic issues. Volume 55:Issue 3(2021)
• Page Start: 584
• Page End: 589
• Publication Date: 2021-07-03
• Subjects: Cambridge economics -- confirmation bias -- heterodox economics; B50 -- B51 -- B52; Economics -- Periodicals; Economics; Économie politique -- Périodiques; Economie; ECONOMICS; ECONOMIC POLICY; Periodicals; 330.05
• DOI: 10.1080/00213624.2021.1940040
• Languages: English
• ISSNs: 0021-3624

Abstract

Abstract: This review article questions the evidence presented by Geoffrey Hodgson to support his claims about the "failure" of heterodox economics which he attributes to its social structures—institutions, culture, and habits. Many of his claims have been previously presented or published. His 2019 monograph seeks to weave together these claims made in multiple fora into an intellectually coherent whole, and he targets particularly Cambridge (heterodox) economics. I contend the following: Hodgson's "benchmarks" to judge heterodox economics are illustrative of a selective use of evidence; his generalized statements are not concrete evidence nor are his unsubstantiated assertions delivered with conviction; and, his selective use of evidence speaks to confirmation bias.