Dennis Kelleher on The Biggest Blindspot in Mainstream Economics @ #INET2017

The video critiques the traditional view of efficient capital markets, arguing that the concept of the invisible hand never truly worked and often harms working people. It highlights the disproportionate benefits the financial system gains from wealth movement and criticizes the influence of purchased research and academics. The video calls for a reevaluation of past economic truths in light of current realities.

What is the traditional view of an efficient capital market?

• It reflects information only when regulated.

• It never reflects information in prices.

• It occasionally reflects information in prices.

• It always reflects all available information in prices.

What is the critique of the 'invisible hand' mentioned in the video?

• It works perfectly in all situations.

• It is beneficial for all economic classes.

• It never worked and is detrimental to working people.

• It only works in developed countries.

How does the financial system benefit according to the video?

• By reducing wealth for the upper class.

• By moving wealth upwards away from the majority.

• By maintaining wealth at the same level.

• By distributing wealth evenly.

What is suggested as a solution to the problems discussed?

• Adhering to old economic models.

• Ignoring new information.

• Focusing solely on historical data.

• Rethinking economic models based on new realities.

What is the biggest problem confronting us according to the video?

• Over-reliance on traditional education.

• The need to think anew in light of current knowledge.

• Too much focus on new technologies.

• Lack of historical data.