patrick.net

"The Federal Reserve, through its extensive network of consultants, visiting scholars, alumni and staff economists, so thoroughly dominates the field of economics that real criticism of the central bank has become a career liability for members of the profession, an investigation by the Huffington Post has found."

This story is definitely worth a read. It talks about how Greenspan basically decided up front what the conclusion of economic studies should be, and then the staff economists would get busy doing the study to arrive those very same conclusion. Dissent was frowned upon, and a danger to your career.

For more details, see

http://www.huffingtonpost.com/2009/09/07/priceless-how-the-federal_n_278805.html