Samuelson, Summers, and other made men

Obama's staffing choices to deal with the current market failure are part of the academic mafia that monopolized economic credentials to prevent the emergence a viable critique of the Efficient Market Hypothesis until quite recently. If you doubt this, check up on Samuelson's war on the Kelley criterion -- it violated his theological precepts, leading to outsized profits for trading companies that eschewed a Harvard pedigree.