shminux comments on Justifiable Erroneous Scientific Pessimism - Less Wrong Discussion
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Off the top of my head, how about the Landau Pole? A famous and usually right genius calculated that the gauge theories of quantum fields are a dead end, and set the Soviet and to some degree Western physics a few years back, if I recall correctly. His calculation was not wrong, he simply missed the alternate possibilities.
EDIT: hmm, I'm having trouble locating any links discussing the negative effects of the Landau pole discovery on the QED research.