Bob Murphy Show Ep. 472 Pontus Rendahl on His Failed Outreach to Heterodox Economists
Dec 17, 2025
Pontus Rendahl, a neoclassically trained economist with a rich academic background, shares insights from his outreach to heterodox economists. He describes his experiences at Cambridge and frustration with hostility during events. Pontus addresses the divide over financial models and radical uncertainty, exploring claims of Modern Monetary Theory. He illustrates how small changes in model assumptions can drastically affect outcomes. His reflections on communication and the value of heterodox ideas in light of the 2008 financial crisis add depth to the conversation.
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Failed Bridge Building At Cambridge
- Pontus Rendahl described trying to build bridges with post‑Keynesian economists while at Cambridge and getting hostility instead of curiosity.
- He recounts a conference where his discussant comments provoked the room against him and an attendee shouted about measure theory.
Measure Theory Gotcha At A Debate
- At a student event Pontus presented mainstream translations of Steve Keen's ideas and a post‑Keynesian berated him for not using measure theory.
- He says the heckler hoped to 'gotcha' him but Pontus knew measure theory and replied calmly.
Translate Models To Find Common Ground
- Pontus argues many heterodox claims overlap with mainstream tools and could be translated into mainstream frameworks.
- He urges mapping equations side‑by‑side to find common ground and shared constraints like GDP identities and budget constraints.