The problem is not that economists lack clout, but that some seek to maximize their influence by stooping to promote special interests. Observe how free trade has mutated into “managed trade.” Sound economic principles, moreover, may be misapplied. Economists who warned against wage and price controls in the 1970s could not convince the public to shun them. Even when the advice of economists is good, the public will not necessarily take it. Those who denigrated saving, for example, contributed to a lower standard of living today. Economists can be and often have been flat out wrong. Klein asks: “Are economists today, in making their individual choices, led to promote ends of human betterment?” He begins by playing the devil’s advocate and gives several reasons why the contributions of economists might not lead to human betterment. All three groups, especially undergraduates contemplating graduate study in economics, will be fascinated and perhaps troubled by what they read. Although the title implies that the book is directed to students and intelligent laymen who would otherwise not know the answer, the book is aimed just as much at professional economists themselves. In What Do Economists Contribute? he and nine other economists (most of them known to readers of Ideas on Liberty) try to explain just how economists contribute to the betterment of mankind. Please consult a tax or legal advisor for advice regarding your personal circumstances.Professor Daniel Klein of Santa Clara University is one of the most engaging and creative economists around. Neither State Farm nor its agents provide tax or legal advice. Investing involves risk, including potential for loss. is a separate entity from those State Farm entities which provide banking and insurance products. Products and services are offered by third parties and State Farm does not warrant the merchantability, fitness or quality of the products and services of the third parties. State Farm (including State Farm Mutual Automobile Insurance Company and its subsidiaries and affiliates) is not responsible for, and does not endorse or approve, either implicitly or explicitly, the content of any third party sites referenced in this material. Let your State Farm® agent know if your existing policy has provisions that might make it beneficial for you to keep. Pre-existing conditions: If you currently have a pet medical insurance policy, switching carriers or purchasing a new policy may affect certain provisions such as coverages for pre-existing conditions or deductibles already established under your current policy. State Farm is a separate entity and is not affiliated with Trupanion or American Pet Insurance. State Farm Mutual Automobile Insurance Company, its subsidiaries and affiliates, neither offer nor are financially responsible for pet insurance products. Terms and conditions apply, see full policy on Trupanion's website for details. Administered by Trupanion Managers USA, Inc. Pet insurance products are underwritten in the United States by American Pet Insurance Company and ZPIC Insurance Company, 6100-4th Ave. (Not Licensed in MA, NY, and WI) State Farm Life and Accident Assurance Company (Licensed in New York and Wisconsin) Home Office, Bloomington, Illinois. ![]() ![]() Life Insurance and annuities are issued by State Farm Life Insurance Company.
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