Why aligned economists point in all directions

[gsabc]

http://wire.factcheck.org/2009/02/10/wh ... e-part-ii/

Ya pays yer money and ya takes yer cherce. Here's hoping that someone willing to admit to any mistakes and work to fix them is in charge.

[Jeemie]

It's the Bounded Rationality problem.

We can't possibly get all the information necessary to adopt a truly rational solution, so we offer limited ones.

Therefore, any economic model assuming the complete rationality of all the players in the economy is bound to be wrong.