Comment: Ah, but protag...

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Ah, but protag...

...economics is indeed a religion. Its adherents must accept things on faith. This is why so many economists were convinced government bailouts and injections of gazillions of dollars into our economy would goose the system. Here we all are, 3 years later, still mired in the economic doldrums.

Its priesthood looks down upon the lowly layman. Last year a highly placed economist wrote “non-economist bloggers...should be ignored” and “writers who have not taken a year of PhD coursework in a decent economics department and passed their PhD qualifying exams cannot meaningfully advance the discussion on economic policy.”

This is classic behavior of an insular priesthood.

“None are so hopelessly enslaved as those who falsely believe they are free.” – Goethe