Yeah, court decisions can be overturned, but this one hasn’t been for eighty years. In US jurisprudence, the longer a precedent stands, the more difficult it is to overturn. It has withstood many challenges in all these years. I don’t think this will be changing any time soon. What’s more, I don’t think it should be.
I was speaking about the so-called “rational market” theory. It used to be the operating wisdom of Western economists. Not anymore. See Justin Fox’s The Myth of the Rational Market.
Yeah, court decisions can be overturned, but this one hasn’t been for eighty years. In US jurisprudence, the longer a precedent stands, the more difficult it is to overturn. It has withstood many challenges in all these years. I don’t think this will be changing any time soon. What’s more, I don’t think it should be.
I was speaking about the so-called “rational market” theory. It used to be the operating wisdom of Western economists. Not anymore. See Justin Fox’s The Myth of the Rational Market.