"EXPERTS" IN ACTION”

" an economics profession that had wandered down so many blind alleys in recent decades that, in the United States between 1985 and 2000, out of 7,000 academic articles produced under the aegis of the National Bureau of Economic Research, only five mentioned fiscal policy, and the consensus was that markets were so perfect that crisis such as we have recently been experiencing simply could not happen." (Times, 14 June) RD