I certainly don't deny that the self-correcting mechanism you describe has worked to some extent in some fields in recent past. However, it also seems evident that in certain other fields nothing like that is happening, even though their mainstream has long been drifting far from reality, and the only people making cogent fundamental criticism are outsiders completely out of grace with the establishment. I don't have anything like a complete theory that would explain when correct fundamental criticism will be acclaimed as an important contribution, and when it will trigger a negative career-killing response from the establishment.
Now, of course, one possibility is that I have simply acquired crackpot beliefs on several subjects and I'm completely misdiagnosing the situation. Clearly, I would disagree, but examining the problem further would require getting into a complex discussion of each particular subject in question.
That said, regarding the specific question of fields that have bearing on the global warming controversies, my current positions are (mainly) ones of confusion and indecision. They are not among the examples of clearly pathological fields that I have in mind. In the context of this thread, I merely want to point out that the arguments such as that advanced by Nordhaus aren't enough to give much certainty about the health of these areas.
Theism is often a default test of irrationality on Less Wrong, but I propose that global warming denial would make a much better candidate.
Theism is a symptom of excess compartmentalisation, of not realising that absence of evidence is evidence of absence, of belief in belief, of privileging the hypothesis, and similar failings. But these are not intrinsically huge problems. Indeed, someone with a mild case of theism can have the same anticipations as someone without, and update their evidence in the same way. If they have moved their belief beyond refutation, in theory it thus fails to constrain their anticipations at all; and often this is the case in practice.
Contrast that with someone who denies the existence of anthropogenic global warming (AGW). This has all the signs of hypothesis privileging, but also reeks of fake justification, motivated skepticism, massive overconfidence (if they are truly ignorant of the facts of the debate), and simply the raising of politics above rationality. If I knew someone was a global warming skeptic, then I would expect them to be wrong in their beliefs and their anticipations, and to refuse to update when evidence worked against them. I would expect their judgement to be much more impaired than a theist's.
Of course, reverse stupidity isn't intelligence: simply because one accepts AGW, doesn't make one more rational. I work in England, in a university environment, so my acceptance of AGW is the default position and not a sign of rationality. But if someone is in a milieu that discouraged belief in AGW (one stereotype being heavily Republican areas of the US) and has risen above this, then kudos to them: their acceptance of AGW is indeed a sign of rationality.