The paradox of prediction

The financial crisis has led to a second revival in Austrian economics. I don't think we should be surprised that since 2008 Keynes and Hayek have both received renewed attention. I predict that textbooks will increasingly reflect this, and believe that this is a good thing. There is a need for the economics profession to adapt to the crisis, but it is doing so. My message to the general public is don't underestimate what economics had to say about the crisis. My message to other economists is don't underestimate what heterodox economics had to say about it.

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Source: http://www.iea.org.uk/blog/the-paradox-of-prediction

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