Heterodoxy Needs Institutional Backing

Abstract

A general aversion to new ideas, psychological factors, and foremost, institutional conditions shape the challenging position of heterodox economics. This institutional framework is coined by a strong orientation towards publication metrics and influences young scholars to conformity. We propose two ideas to improve the conditions for heterodox research. First, to introduce competition between journals for the scientific papers they want to have the most. Second, to establish a qualified random selection of papers to equalize the chances of publishing.