Why, when the economist gives advice to his society, is he…
“Why, when the economist gives advice to his society, is he so often cooly ignored? He never ceases to preach free trade, and protectionism is growing in the United States. He deplores the perverse effects of minimum wage laws, and the legal minimum is regularly raised each 3 or 5 years. He brands usury laws as a medieval superstition, but no state hurries to repeal its law.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Economists' advice often clashes with political interests, leading to selective hearing despite logical arguments.
In simple terms: Expert advice is ignored due to politics.
Key Takeaway
Consider political context when presenting ideas.
Themes
economics
politics
communication
Mood
critical
analytical
Type
academic
political
When to use this quote
- policy debates
- media interviews
- legislative hearings
Key Concepts
public policy
interest groups
ideological bias
Questions to Reflect On
- Why do audiences reject logical economic arguments?
- How can economists make their messages more persuasive?
A Different Perspective
Even sound advice can be dismissed by entrenched interests.