Which comes first — price being set by the intersection of supply and — Steve Keen

"This ascendancy of economic theory has not made the world a better place. Instead, it has made an already troubled society worse: more unequal, more unstable, and less efficient."

"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."

"In general then, and contrary to Friedman, abandoning a factually false heuristic asumption will normally lead to a better theory — not a worse one."

"Since in reality the stock market is inhabited by mere mortals, there is no way that the stock market can be efficient in the way that economists define the term."

"Thus while diminishing returns do exist when industries are broadly defined, no industry can be considered in isolation from all the others, as supply and demand curve analysis requires."

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