How does neoclassical economics instill this level of cognitive dissonance in people? It’s probably the way things like information asymmetry and irrationality are presented as deviations from idealised conditions, rather than as being central to an understanding of the economy. This leads economists to see reality itself as a deviation from their perfect models, and hence dismiss results that conflict with their theories as anomalies. So a question for defenders of economics: do people from other disciplines behave similarly? Would you be able to find a list of equally absurd statements from other sciences, social or otherwise? If the answer is no, surely it suggests that something is wrong with … Continue reading Unlearning Economics