Powell, who is accused of incorrect budget management for Fed repair

Homo Economicus, or an “economic person”, is an idea that reflects people as rational creatures. This assumption was used to build economic models and, more widely, society.

A big drawback in this theory is the assumption of logic in humans. We know what the concept is daily. We need to keep cholesterol under control, but the crunch of this fried chicken is insurmountable.

On Thursday, the US management and budget director Russell Vus accused Jeroma’s federal reserve chairman of shooting for the budget to update the Central Bank’s headquarters of about $ 700 million.

In one go, He also asked Why there were no “gardens on the roof, private vip and elevators, water features, marble premium class and much more,” as planned.

For the sake of justice, if all accusations are true – that promised luxury functions are taken into account in the budget were omitted until the costs were broken expectations – it would be Makes mismanagement. At this point, however, either the budget or the fountain should give.

The charge even more fundamentally raises the question of whether the US President Donald Trump is engaged multiple rant Against Powell . will use this incident to download the Fed chair.

The idea of ​​”Homo Economicus” was widely criticized in the late 20th century. Thanks to psychological experiments, economists did not prove that a person is not completely rational. But, indeed, they had to go for such length?

– Dan Mangan Pangan contributed to this report.

Cost Fomo – The Indian Options Market faces reality check

A week ago, the Indian markets regulator sent a strong signal, banning the World Trade Firm Jane -States from participating in the local stock market.

But as the noise settled and the legitimate return and back begins, the true story can lie elsewhere. This case offers a window into the structure and stress points of India’s options, and what happens when the regulation, technology and the enthusiasm of retail.

– Spriha Srivastava