"The reason why economics has given such a poor account of the origins of the crisis is that there is something essentially incompatible between the economist's view of individual rationality and systemic collapse. Without adding qualifications which strain their logic, economists cannot readily get from their picture of the the individual maximizing his utilities to booms and slumps and the persistence of depressions."
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Biographers from the United KingdomUniversity of Oxford facultyUniversity of Oxford alumniHistorians from the United KingdomFellows of the British Academy
Original Language: English
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Ch. 2 : The Present State of Economics
https://en.wikiquote.org/wiki/Robert_Skidelsky%2C_Baron_Skidelsky
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Robert Skidelsky, Baron Skidelsky
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