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Justin Fox Contemplates the Decline of the Rational Market

Justin Fox, business columnist and Curious Capitalist for Time magazine as well as author of the bestseller The Myth of the Rational Market, stopped by Big Think recently to talk about the eroding influence of the rational market theory, the problem of MBA programs, and the next great financial models.

Some of Justin’s most interesting insights concerned how attempts by MBA programs to justify themselves as a worthwhile academic pursuit had a dangerous impact on the financial crisis.

On the other hand, Fox acknowledges that booms and busts are an integral part of the American economic cycle, and he clues Big Think in on economists conceptualizing new market theories to replace the rational market myth that incorporate booms and busts.

Finally, Fox provides his insight into the surprisingly conventional background one of the most unique – but prescient – market prognosticators of recent years, Robert Shiller.


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