>By the way Mat, I don't understand how PKT models based on the premise
that
>behaviour is everywhere and always "sensible" are outside the standard
>model. Do you?
I think that there are a variety of sources of crises in capitalism. Sometimes it is useful to have models that highlight one or some of these sources, and to do that it may be useful to exclude some others. For example, I think that technological change can be a source of permanent unemployment. Since money and uncertainty are also sources of unemployment, a model that de-emphasizes the role of money and uncertainty can be used to highlight technological change, full knowing that in reality, capitalism always includes money and uncertainty and technological change, so the results of models that exclude some are always partial, provisional, etc. So I guess my answer to your question is, it depends.
Capitalism would be crisis-ridden even with rational or reasonable people.
Mat