experts

TRX
August 24, 2012
86:
@77:
The US economists were chained to their theories
...
In contrast the Korean economists were eminently practical
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It's an example of the "expert problem." You train experts similarly, and their status is partially determined by how well they perform to the expectations of other experts. You get a nice closed loop going there. When such experts are put in charge of things, things can go awry in particularly nasty ways.

"Expertise" is one indicator of proficiency, but success is a better one.

Like Mack Reynolds said long ago, if those economists can predict the market better than random chance even 1% of the time, they ought to be wealthy on their own.