http://www.businessweek.com/magazine/content/09_17/b4128026997269.htm In this article the author correctly questions the profession of economics and the usefulness of "regular" economists. http://mises.org/story/3436 In this other article, Austrians (although I don't like them much they are right about this matter) support the article from businessweek and explain a little on their own perspective. I would like to share with you my own experience. Back in 2006 I was an Economics student, working on my BS in Economics from the School of Business. Housing prices in Miami were really inflated and I took my though to class that a major foreclosure stampede was coming for Miami. (I really did not know it was a National problem). My instructor (now chief economist for the Miami Dade County) did not see it coming and obviously did not take me seriously at all. ONE THING I DO LOVE FROM AUSTRIANS. "HUMAN LOGIC"