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— Paul Krugman"Economists don't usually make good speculators, because they think too much."
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At best the principles that economists have supposed the choices of rational individuals to satisfy can be presented as guidelines for us to consider when we make our decisions.
— John Rawls
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Until the Great Depression, most economists clung to a vision of capitalism as a perfect or nearly perfect system. That vision wasn’t sustainable in the face of mass unemployment, but as memories of the Depression faded, economists fell back in love with the old, idealized vision of an economy in which rational individuals interact in perfect markets.
— Paul Krugman
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