Posted 7:29 PM by Gene

An interview with James K. Galbraith, slightly expurgated:

Do you find it odd that so few [DUMMIES] foresaw the current credit disaster? Some did.

The person with the most serious claim for seeing it coming is Dean Baker, the Washington economist [*]. I saw it coming in general terms.

But there are at least 15,000 professional [DUMMIES] in this country, and you’re saying only two or three of them foresaw the mortgage crisis?

Ten or 12 would be closer than two or three.

What does that say about the field of [DUMMYISM], which claims to be a science?

It’s an enormous blot on the reputation of the profession. There are thousands of [DUMMIES]. Most of them teach. And most of them teach a theoretical framework that has been shown to be fundamentally useless.

Th rest of the interview is mostly standard-issue knee-jerk-liberal tantrum throwing, but at least he got his fellow DUMMIES right.

*Well, there are exceptions in every field.

(Via The Daily Beast)