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. In the sense that financial markets and the economy in general are far more fragile than most mainstream economists contemplated before 2008, there was a bit of unlearning done in the 1990s and early 2000s.