... toxic derivatives were underpinned by toxic economics, which, in turn, were no more than motivated delusions in search of theoretical justification; fundamentalist tracts that acknowledged facts only when they could be accommodated to the demands of the lucrative faith. Despite their highly impressive labels and technical appearance, economic models were merely mathematized versions of the touching superstition that markets know best, both at times of tranquility and in periods of tumult.
Yanis Varoufakis, The Global Minotaur: America, the True Origins of the Financial Crisis and the Future of the World Economy
derivatives, economic-models, economics, markets