Buffett: America’s Spiraling Deficits are ‘Unsustainable’
May 19th, 2009 | By Contrarian Profits | Category: Notes From the Investment UndergroundOne of the problems with orthodox economics is it misses the point on human behavior. Orthodox economists build their models around the assumption of rational behavior of large groups of people. There is therefore always a gulf between this type of economic theory and the real world.