class treason or just the truth?

"leading active members of today's economics profession...have formed themselves into a kind of politburo for correct economic thinking. as a general rule- as one might expect from a gentleman's club- this has placed them on the wrong side of every important policy issue, and not just recently but for decades. they predict disaster where none occurs. they deny the possibility of events that hen happen...the oppose the most basic, decent, and sensible reforms, while offering placebos instead. they are always surprised when something untoward ( like a recession) actually occurs. and when finally they sense that some position cannot be sustained, they do not reexamine their ideas. they do not consider the possibility of a flaw in logic or in theory. rather, they simply change the subject. no-one loses face in this club for having been wrong. no-one is dis-invited from presenting papers at later annual meetings. and still les is anyone form outside invited in."
james k. galbraith

jim is setting out to be the smedley butler of economists and i have to wish him well...anyone one who turns on the established doyens and doges of their particular societal niche is in for a rough ride...especially with a group capable of such wonderful self-deceit as economists...how they can continue to foul their own nests and still retain any shred of credibility is a tribute either to their refined and convoluted academic thinking or to their utter irrelevance to the real world...either way the come second only to the whore politicians in their disconnect from the rest of us...mired completely in an economic system that has seen better days and may be shuffling off stage to a dirge as the rest of us try to work things out...current economic structures are at the mercy of the sunk costs of their infrastructure and their need for continued growth...the inertia of these two albatrosses is steering them away from even admitting the seriousness of their ( and by extension our ) situation much less addressing it...when leadership fails you have to lead yourself and the failure of leadership is glaringly obvious... people are veering off into odd tangents because of it and that may not bode well if the sociopathic elemment garners some influence ( as i recall hitler rose out of some economic distress...check out the novel "it can't happen here" for an imaginative view of the possibilities that were rife in the last great economic upheaval in the empire)...time to build a community and an inclusive consensus of who we are so we have something to fall back on when all this comes crashing down...clearly we will have to do this ourselves.