<html><body><div style="color:#000; background-color:#fff; font-family:times new roman, new york, times, serif;font-size:12pt"><div><span><br></span></div><div style="color: rgb(0, 0, 0); font-size: 16px; font-family: 'times new roman', 'new york', times, serif; background-color: transparent; font-style: normal;"><div style="font-size: 16px;"><span style="font-family: Arial; font-size: 13px;">BillK <pharos@gmail.com> wrote:</span><br></div><div style="background-color: transparent;"><span style="font-size: 12pt;"><br></span></div><div style="background-color: transparent;"><span style="font-size: 12pt;">>Some people disagree.</span><br></div><div class="yui_3_7_2_20_1366097623276_59" style="font-size: 12pt;"><div class="yui_3_7_2_20_1366097623276_63" style="font-size: 12pt;"><div class="y_msg_container">>See:<br>>ECONNED: How Unenlightened Self Interest Undermined Democracy and<br>>Corrupted Capitalism<br>>Yves Smith</div><div
class="y_msg_container"><br></div><div class="y_msg_container">Based the review you provided, I am probably more in agreement than disagreement with this author.</div><div class="y_msg_container"><br></div><div class="y_msg_container">I was in agreement with you, BillK (I think it was you) when you suggested in so many words to Mirco that the financial crisis of 2008 poked some holes into modern economic theory. The idea that economic actors should or can be considered at all times rational does not mesh well with the recent facts. This is also why I, like you, do not object to Eugen's use of the term "animal spirits". <span style="font-size: 12pt;"> </span></div><div class="y_msg_container"><br></div><div class="y_msg_container">-Gordon </div><div class="y_msg_container"><br></div></div></div></div> </div></body></html>