that's probably the way one should really think about the problem.

日渐成为人们思考的问题之一
So it's become very fashionable now to say that financial

所以现在有一种非常流行的说法
theorists had everything all wrong and to ask how it is that

金融理论都是错的
they got everything all wrong.

以及它们为什么都是错的
Why didn't they anticipate the crash?

它们为什么没有预测到金融风暴
And the two standard critiques of standard financial economics

标准金融理论的两大弊端在于
are a) it didn't allow for psychology,

其一它没有考虑到心理学
and you'll hear about that from Shiller next semester,

这部分你在下学期西勒教授课上就能学到
and b) it didn't take into account collateral.

其二它没有考虑抵押品
And it was all done in a very special case,

它们都是在研究很特殊案例
a knife-edge case.

很尖锐的案例
If you looked at it a little more broadly you would realize

如果你把眼光放长远一点你就会发现