Sentence:  With the glaring failure to predict even the possibility - much less circumstance - of the recent Crash and with the even more foreseeable failure of its tired old, rehashed <WSD>nostrums</WSD> of ending the slump by means of an inequitable programme of corporate welfare, inflationary "unorthodoxy", and the unleashing of the debt-spewing monster of the state to gorge itself upon such things as individuals and private concerns no longer care to consumer, it should hardly be controversial to asset that mainstream macroeconomics - and the reputations of the many panderers to power who practice it - are equally broken. 
Meaning of the word marked with <WSD> tags:  An ineffective but favorite remedy for a problem, usually involving political action.