I’ve added Podcast #93 to the “RobCasts” section of the site. It’s called Rational Man Loses It.
The roots of our troubles are in the “Rational Man” or “Economic Man” concept. Economists have long known about the flaws in the concept. Yet Eugene Fama employed it in developing the Efficient Market Theory and John Bogle subsequently employed the Efficient Market Theory in development of the Passive Investing model of stock investing. Yowsa!