The Myth of the Rational Market: Nudging Each Other Away from Fool’s Gold

A flurry of media commentary and several new books are focused on the recent financial crisis and near economic collapse. A Newsweek article by Zakaria (2009), “Greed is Good (To a Point),” suggests reconsidering the role of greed in capitalism. This is also the theme in Fools Gold (Tett, 2009), a story about the way derivatives markets have evolved: showing greed at its worst. In many ways this is the core source of the current set of problems. In some sense, these perspectives are integrated in The Myth of the Rational Market by Fox (2009), who traces the thinking on the efficient market hypothesis, now understood for what it is: a myth. Both books are based in large part on interviews with major players in the crisis. There are also books drawing mainly on science, but still quite accessible to general readers, as represented in Nudge by Thaler and Sunstein (2008). Both have done extensive research on human foibles in economic choice. There is also Animal Spirits (Akerlof and Schiller, 2009), a book about what Keynesian economics is really about, a look at human forces at work. Akerlof is a Nobel prize winner in economics, who before this has pointed to the problems with presuming rationality in real markets. Schiller is one of the few economists who predicted these events.

Traces, Patterns, Texture: In Search of Aesthetic Teaching/Learning Encounters

This inquiry reveals the crucial guidance of teachers toward surveying the capacity and needs of students, the formation of ideas, acting upon ideas, fostering connections, seeing potential, making judgments, and arranging conditions. Each aesthetic trace causes me to wonder how teachers learn to create experiences that foster student participation in the world aesthetically. The following considerations surface: • Given the emphasis in schools on outcomes and results, how do we encourage teachers to focus on acts of mind instead of end products in their work with students? • Given the orientations toward technical rationality, to fixed sequence, how do we help teachers experience fluid, purposeful learning adventures with students in which the imagi¬nation is given room to play? • Given the tendency to conceive of planning in teaching as the deciding of everything in advance, how do we help teachers and students become attuned to making good judgments derived from within learning experiences? • How do we help teachers build dialogical multivoiced conversations instead of monolithic curriculum? • What do we do to recover the pleasure dwelling in subject matter? How do we get teachers and students to engage thoughtfully in meaningful learning as opposed to covering curriculum7 • A capacity to attend sensitively, to perceive the complexity of relationships coming together in any teaching/learning experience seems critical. How do we help teachers and students attend to the unity of a learning experience and the play of meanings that arises from such undergoing and doing? The traces, patterns, and texture evidenced locate tremendous hope and wondrous possibilities alive within aesthetic teaching/learning encounters. It is such aliveness I encountered in the grade 4 art classroom that opened this account and continues to compel my attention. Possibilities for teaching, learning, and teacher education emerge. I am convinced they are most worthy of continued pursuit.