Interesting discussion about Economics as a recognized "theory"

From Linda Beale's guess post at NakedCapitalism.com:

What does the lead-in admit to, then (if it still thinks economic and free market theory are worth defending)? It acknowledgs that the discipline is subject to three critiques:

1) it helped cause the current economic crisis
2) It failed to see it coming
3) It doesn't know how to fix it.