The document discusses how economists' assumptions about rational human behavior often do not reflect reality. It provides examples of economic crises caused by irrational behavior, including the 2008 financial crisis driven by the housing bubble. Mathematical models created by Nobel prize winners and actuaries failed to predict these crises because they did not account for how human behavior can become irrational and the aggregate can change in unstable ways. While restoring confidence in markets is important, arrogance about economic theories should be avoided as irrational behavior and bubbles are often what drive economic froth rather than demand-based laws.