article thumbnail

Is Economics Ready for a New Model?

Harvard Business Review

Economic theories based on rational behavior have been called into doubt by recent events. If you want to learn about the subject, in fact, Hector's article is probably better — it's clearer in its descriptions of the relevant theories. But does that mean their theories and their way of going about their work are about to undergo wholesale change? The other big idea in the 1988 article was chaos theory. Disruptive innovation Economy Finance