Officials are trying to understand why consumer spending, the job market and overall growth have not responded to the most aggressive interest rates in decades.
Honestly, until we update the idea of an economic rational actor, I don’t think we’re going to get very far. In fact I think we risk getting further afield the longer we persist, and the more difficult it will finally be to realign everything
I agree. The idea of humans being rational is so divorced from reality it makes me wonder if economists know real people.
To be fair, they don’t get invited to a lot of parties.
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It always struck me that, most hostesses being more than one foot wide, those would lead to one of those Very Special Episodes of Star Trek, like when the rock tried to eat Kira.
