According to physicist David Deutsch in The Beginning of Infinity, Explanations that Transform the World, anti-rational thought uncomfortably coexists with the rational.

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History, along with basic economic logic tell us that emotion, rather than rational thought, is driving this latest bout of low economic self-esteem.

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The reason why economists in the late 19th century and much of the 20th put the rational utility-maximising individual at the heart of their models was not that they thought that economics should avoid looking into the brain, but because they lacked the technical means to do so, says Mr Colander.

ECONOMIST: Neuroeconomics: Do economists need brains? | The