Irrational Everything

" Much of economic theory is flawed because its models assume people act rationally when of course they don’t. And yet economists and central bankers continue to make predictions based on these flawed models because, well, they don’t have better ones. Or the better ones that do exist yield inconvenient results that are more easily ignored than dealt with. Despite this, many of the rest of us continue to rely on discredited economists because, again, we’ve got few other choices."