Category Archives: Rational Expectations

Frydman & Goldberg on Robert Lucas & F. A. Hayek

From Roman Frydman and Michael Goldberg’s new book Beyond Rational Markets: Asset Price Swings, Risk, and the Role of the State: The problem that haunts the Rational Expectations Hypothesis is the same one that doomed socialist planning: no fully predetermined … Continue reading

Posted in 1945, Frydman, Knowledge Problem, Limits to Knowledge, Lucas, Macroeconomics, Rational Expectations | Comments Off

BLOG POST OF THE YEAR

Arnold Kling explains the “rational expectations” revolution in macroeconomic science.

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