2 ms·
This sounds like more Keynesian style delusion to justify the elitism of central economic planners. For instance the comment about economists 'realising' that i
by aminok 10y ago
This sounds like more Keynesian style delusion to justify the elitism of central economic planners. For instance the comment about economists 'realising' that individuals are not perfectly rational and markets are not perfectly efficient is a classic Keynesian misunderstanding of the Efficient Market Hypothesis, which says that markets approach efficiency, and the individuals that shape markets approach rationality, over time. The theory is a logical extrapolation of the effect of evolutionary processes on market behavior.