Is Economics Ready for a New Model?
Harvard Business Review
DECEMBER 2, 2010
The conviction spread that, thanks in part to financial innovation, the world's developed economies had become more resilient even as financial markets became more volatile. You can find lots of scholars at top economics departments who study why bubbles and crashes happen, and how psychology and genetics shape individual decisionmaking. Disruptive innovation Economy FinanceEconomic theories based on rational behavior have been called into doubt by recent events.