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I'm not sure if you read the article in question - but it is literally interviewing Fama (the person who coined the term "efficient market hypothesis) about way
by legitster 2y ago
I'm not sure if you read the article in question - but it is literally interviewing Fama (the person who coined the term "efficient market hypothesis) about ways markets continue to be inefficient.
Regardless of how much efficiency there is or is not, it's still a good theoretical framework for understanding markets. No one assumes the cost of a wheat future is a completely made up number so obviously there is some efficiency.
- atoav 2y agoMy point wasn't about the hypothesis of efficiency per sé. It was about the field of a whole. I have nothing against useful tools or models. But all too often these get confused with reality in economics — with potentially world-changing consequences. Granted this wasn't the point of the article, it was more like a tangential thought.