Economic Impact | Pilot 1 | A Heterodox Economists' look at Louisville then and now | 6-7-23

Professor Tom Lambert is thrilled to debut a new program on Forward Radio focused on exploring our local political economy to get at deeper truths about why Louisville is the way it is and what we could do to make it better for everyone! Tune in to hear an increasingly rare perspective on these issues - that of a heterodox economist.

Heterodox economics, as opposed to orthodox or mainstream economics or "neoclassical" economics, is more eclectic in its approach to economics and allows pluralism of views and concepts. It also harkens back to when economics and political science were pretty much joined together in one discipline called political economy. Today's economists do not like the term "political economy", but Tom thinks they miss a lot by assuming that markets exist in a vacuum and that all consumers/people are either nearly perfectly rational or completely rational.

Professor Lambert is in the Economics department at UofL and has recently been assigned to their equine industry programs as an applied economist. Prior to UofL, he taught full time for Northern Kentucky University in their Master of Public Administration program for several years. Before that he was with the economics department at IU Southeast for many years. Professor Lambert has a MS in economics from UK and a PhD in Urban and Public Affairs from UofL with a concentration in urban economics and economic development.