Re: What’s the deal with conservatives, economists, and the minimum wage?
On Jan 19, 2007, at 12:02 PM, Willy Greenfields wrote:
rational bubble argument
When exactly was rationality blackened so badly?
Part of it is that orthodox finance theorists don’t want to allow any
space for irrationality in the markets, so everything has to be
assimilated to a rational explanation. (As someone said, can’t
remember who, the orthodox see appeals to irrationality as a form of
“cheating.”) Even Stiglitz used to think that way, but he may be
coming around.
Doug