Insulated theory communities respond to crisis by claiming vindication.

Evidence

Now, contrast this with our predicament in 2012. All around, from the most rabid Hayekian on the right to the polemical Joseph Stiglitz on the “legitimate left,” almost every economist enjoying a modest public profile now proclaims that the crisis clearly demonstrated that his own favorite economic theory was right after all, and consequently, there is no need to call for any thoroughgoing revisions to economics. — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 442

Categorization

• XREF: Echoes Mirowski’s broader thesis that an embedded ‘neoliberal thought collective’ absorbs inconvenient evidence; also links to book’s framing of epistemic communities across previous chapters. — connects to: Cognitive dissonance drives economists and neoliberals to treat crisis as reinforcing their beliefs; The economics profession used crisis theory as calculated doubt-pumping to defend orthodoxy — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 665; Post-crisis economists reacted in one of three distinct ideological postures — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 656

Broader Connections

• Cognitive dissonance drives economists and neoliberals to treat crisis as reinforcing their beliefs #exemplifies (0.95)
• The economics profession used crisis theory as calculated doubt-pumping to defend orthodoxy #exemplifies (0.92) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 665
• Post-crisis economists reacted in one of three distinct ideological postures #expands (0.80) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 656