Yes as a theoretical construct the concept is totally fine. But speaking as someone who has heavy exposure to mainstream academic economics it’s usually taken w

Yes as a theoretical construct the concept is totally fine. But speaking as someone who has heavy exposure to mainstream academic economics it’s usually taken way way further than that. There’s a concept called the EMH and I think there’s a very strong tendency in Econ and pop culture to skip ahead and assume the hypothesis is basically true most of the time, often in the face of painfully obvious evidence to the contrary.