You should go ahead and read Thomas Frank's book that he pulled this article from. He spends an entire chapter on how regulators and economists from the well-g

You should go ahead and read Thomas Frank's book that he pulled this article from. He spends an entire chapter on how regulators and economists from the well-graduated "meritocratic" elite simply aren't held to any kind of empirical standard whatsoever. When they're wrong, they consider it as a civilizational mistake. It's only other people who can be individually incorrect and responsible for intellectual mistakes.