This is one reason why I feel like economics is still in its infancy and I find a lot of policy recommendations are built off ideology rather than actual reality. That doesn't stop people from being very confident though about their statements.
I understand that sometimes you need assumptions to make the math work, but the fact that it took so long for behavioral economics and bounded rationality to be recognized is crazy. Just because the math is convenient doesn't mean people work that way at all.
I say this as someone who has taken a lot of econ classes, so I understand its value, but it is still very much a set of principles and ways of thinking about problems involving people, rather than something as exact as it's made out to be.
I got slightly off topic here, but seeing as how Daniel got the nobel prize in 2011 (pretty recent) and the work occurred in the 70s, it made me think again about how young the field is.