[The financial crisis] has not been kind to the reputation of economics and economists, and understandably so. Almost universally, economists failed to predict the nature, timing, and severity of the crisis; and those who issued early warnings generally identified only isolated weaknesses in the system . . . As a result of these developments, some observers have suggested the need for an overhaul of the system as a discipline, arguing that much of the research in macroeconomics and finance in recent decades has been of little value or even counterproductive. Although economists have much to learn from this crisis, I think that calls for a radical reworking of the field go too far. . . .

Philip Mirowski, Never Let a Serious Crisis …, loc. 517