garelon

There's this silly trend both in Political Theory and Economics which aims to criticise Ideal Theories on the ground that the world is not an ideal one. This happened, among the others, with Fama (see his works on Efficient Market Hypothesis) and John Rawls (see the original position). I find many of those objections a bit trivial. Ideal theories shouldn't be judged on their accuracy in describing the real world. They should be judged on whether they represent a good normative standpoint for...