> What I should have said was that the results of the study reported
> on in the WSJ Rebello article forwarded by Doug were consistent with
> Keynes's liquidity preference theory. The study doesn't, to say the
> least, interpret its results in terms of this theory, so it's not a
> "return to Keynes" in this sense.
>
> The rationality postulate underpinning the view of financial markets
> that does actually dominate conventional economic analysis - the
> assumption of omniscient fully rational expectations - is very
> widespread.
I don't know if J. Barkley Rosser, Jr. is still signed on to the list, but his essay on the topic is here:
Uncertainty and Expectations by J. Barkley Rosser, Jr.
http://cob.jmu.edu/rosserjb/UNCRTEXP.ECT.doc
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