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this post was submitted on 28 Apr 2024
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I remember back to my econ class where most models were predicated by, "assuming rational actors.." and think then that most people are irrational and impulsive. And to think that much of the financial world is based on those models, it really sums up why no one has a clue why everything is so fuckey.
Yeah, capitalism would be a great system if the foundation, which is rational actors with perfect information, weren't so wrong. Once you realize that that is totally wrong, you really notice all the flaws in the system.
Inherently it's still not a great system