…the reason is that the effects are relatively easy to reconcile with the assumption of rationality (so no challemge) and especially because we are still assuming it won’t happen again….

…he brought me on board to do various things at JEBO.  He also from an early time disagreed with fully rational models, admiring the bounded rationality/behavioral economics approach of Herbert…

…is a problem with teaching first about perfect competition (and rationality and symmetric information and static models or models with complete markets and … I shouldn’t have gotten myself started…

…it’s so profitable. But that’s not a safe assumption. Angell was right to describe the belief that conquest pays as a great illusion. But the belief that economic rationality always…

…has sued the Trump Organization for what it says is tax evasion; Greenland has deposits of rare earths; Canada has poutine. But I think that all of this ascribes too much rationality…

…But Ackman refused to take any responsibility for enabling the destruction: “I don’t think this was foreseeable. I assumed economic rationality would be paramount. My bad.“ Indeed. Who could have…

…US economy is likely to suffer because of this move. T—-p will probably surrender in this fight, but rationality is not his strong suit. And Xi may want the US…

…place and time and custom, blending into one big rationality of City, worldwide, like a dull gray paste. Did anyone today speak Deutsche, English, Francais, Espanol? Everyone spoke Interworld. Style…

Robert Waldmann Neoconservatives have expressed sympathy for “intelligent design theory,” that is, creationism. This is well documented by Ronald Bailey’s article in “Reason on line.” Bailey discusses why neoconservatives might…

by Bruce Webb Over at TPM Justin Fox is launching a discussion of his new book The Myth of the Rational Market: A History of Risk, Reward, and Delusion on…