John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

In regard to the wider profession of economics, there were some voices which expressed, perhaps late in the day, criticism of fiscal policy. The term "groupthink" is often used regarding politicians, the media, bankers, property developers, and what went on in Ireland in the lead-up to the banking crisis. Was Professor Lane's profession part of the groupthink that went on?