Economic criticism is ineffective in changing public policy, George F. Stigler, professor of economics at the University of Chicago, last night told a crowd of about 200.
Speaking at the Kennedy School Forum, Stigler said that as economists struggle to increase the efficiency and equity measures of public programs, institutions guilty of the "sin of myopia with respect to future needs" respond only to individual directives.
"We live in a mistake-prone world," he said, adding, "As political arithmeticians and self-appointed saviors, economists must point out to society what it is doing wrong and suggest acceptable goals."
Economists frequently fail to realize that the political process surrounding economic policy formation is beneficial to man, Stigler said.
"If criticism is well-received only when economists preach what societies wish to hear, then pulpits should be at the rear instead of the front to indicate clearly who is leading," Stigler added.
Stigler's lecture, "Economics or Ethics?: The Economist as Preacher," was the first of three Tanner Lectures on Human Values he will deliver at the Kennedy School this weekend.
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