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The EMH cannot apply in a world in which investors differ in their expectations, in which the future is uncertain, and in which borrowing is rationed.

— Steve Keen Debunking Economics - The Naked Emperor Of The Social Sciences (2001)

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More quotes by Steve Keen

Economics is not the Emperor of the social sciences, but the Humpty Dumpty.

Debunking Economics - The Naked Emperor Of The Social Sciences (2001)

The belief that a capitalist economy is inherently stabilising is also one for which inhabitants of market economies may pay dearly in the future.

Debunking Economics - The Naked Emperor Of The Social Sciences (2001)

Why do economists persist in modelling the economy with static tools when dynamic ones exist; why do they treat as stationery an entity which is forever changing?

Debunking Economics - The Naked Emperor Of The Social Sciences (2001)

Economic theory in general ignores processes which take time to occur, and instead assumes that everything occurs in equilibrium.

Debunking Economics - The Naked Emperor Of The Social Sciences (2001)

Not even an economist can make time stand still (though some victims of economics lectures might dispute that!).

Debunking Economics - The Naked Emperor Of The Social Sciences (2001)

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Quote text and notes from Wikiquote: Steve Keen (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.