A useful role exists for the economist is making calculations of the prospective costs and/or benefits of alternative policies. This role is precisel… - George Stigler

In spite of assigning little influence of economists' preachings on actual public policy, I do not believe that economists' influence is negligible. The reconciliation of these views lies in the fact that economists are scientists as well as preachers. Our science seeks to understand how economic institutions and economic systems work, and no informed person can deny that we have made much progress in this work.

Some important aspects of important aspects of economic organization take on a new meaning when they are considered from the viewpoint of the search of information.

Economists are neither distinctively good nor bad, no more or less virtuous or brave or generous or faithful than the sum of mankind, and certainly no more modest.