[raybbr]

The real issue is that there is extremely low likelihood that the speculations of the untrained, on a topic almost pathologically riddled by dynamic considerations and feedback effects, will offer anything new. Moreover, there is a substantial likelihood that it will instead offer something incoherent or misleading. Note also that intelligence is not the issue. Many of those I am telling you not to listen to will more than successfully be able to match wits, in any generalized sense, with me. This is irrelevant. The question is: can they provide you, the reader, with an internally consistent analysis of a dynamic system subject to random shocks populated by thoughtful actors whose collective actions must be rendered feasible? For many questions, I and my colleagues can, and for those that the profession cannot, the blogging crowd probably can’t either.

Good grief! All he had to say was, "Economics follows Chaos Theory and therefore can't be explained" instead of four pages of Thesaurus use.

[1rudeboy]

He (or she?) has to spend a good deal of time heading-off the attacks you see above—”ivory tower intellectual,” “elitist,” and so forth.