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Opinion
John Authers

Are Markets Better Understood Without Equality?

It might seem heresy, but let’s ask a few questions of one of the most fundamental assumptions used to analyze the economy.

A trader works on the floor of the New York Stock Exchange.

A trader works on the floor of the New York Stock Exchange.

Photographer: Michael Nagle/Bloomberg

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Before the Easter/Passover break, I tried offering some questions. Now to move further into doubt, or even heresy. Economists rely on the assumption that all else is equal (ceteris paribus in Latin). What if it isn’t? Or alternatively, what if everything I know is wrong?