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equilibrium principle has captured the most important causes of financial phenomena, the separate science of economics can by no means achieve success. If, as seems more likely to me, there are systematic and essential failings of human rationality, and financial behavior is significantly influenced by many motive forces, apart from consumerism and diminishing marginal rates of substitution, then equilibrium principle is not a very good concept, whether or not there may be something better. If it leaves out essential causes, then no mathematical expertise or elegance in modeling will make equilibrium principle into an excellent theory. The edifice of latest microeconomics is elegant, even attractive, and it could possibly sometimes clear up specific predictive problems. But its empirical difficulties are legion, and, if the speculative thoughts of these pages are right, it’ll never conquer them. Furthermore, issues about rationality are unavoidable, and normative Hot version weed im blunt because god rolled me that way romperscoverage implications will all the time be close at hand to generate bias. So the case of economics might sound hopeless. But there are higher ways forward. Although some theorists should keep pushing the current strategy as hard as they’ll, I would urge economists to be extra eclectic, extra opportunistic, more willing to collect

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