Theorizing was lacking about market efficiency and rational expectations, which together would lead to stability and the optimalallocation of resources.
One of the principal preconditions of a free market and the optimalallocation of resources is an unlimited number of buyers and sellers such that none can influence prices.
The recognition that behavioral psychology plays a central role in economic development is profound and flies directly in the face of traditional theories of prosperity that focus solely on optimal resource allocation.
They all work well with each other, but this is certainly not the optimal organization or allocation of resources if you were designing a system from scratch.