notices - See details
Notices
CM
Chris Macon (not verified)
19th August 2023 | 8:51am

Economics would be taken far more seriously if we just threw out words like "perfect", "optimized", "rational", "efficient", and "equilibrium". None of these things have ever existed in the real world. They are helpful theoretical frameworks for thinking about how decisions are made, but will only ever get you part of the way to any sound insight.