True. Because rational doesn't mean logical, ethical or moral.
It merely means that given a certain set of axioms, heuristics and circumstances, it arrives at the same or nearly similar results.
The law is rational in this sense but not always logical or moral.
The one things with markets today is, thanks to QE, they are NO LONGER value/price seeking system at all. The proof of this is the cross correlation across all asset and instrument classes hovering around 80%-90%. That's NOT what should be happening.
