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Despite the high salaries involved, employing economists is a cost-effective way for banks, and stockbrokers to secure exposure in the media.
--
Part I, Chapter 4, Professional Reservations, p. 67

 

Paul Ormerod

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Thanks to economists, all of us, from the days of Adam Smith and before right down to the present, tariffs are perhaps one tenth of one percent lower than they otherwise would have been. … And because of our efforts, we have earned our salaries ten-thousand fold.

 

Milton Friedman

 

We're not analyzing the media on Mars or in the eighteenth century or something like that. We're dealing with real human beings who are suffering and dying and being tortured and starving because of policies that we are involved in, we as citizens of democratic societies are directly involved in and are responsible for, and what the media are doing is ensuring that we do not act on our responsibilities, and that the interests of power are served, not the needs of the suffering people, and not even the needs of the American people who would be horrified if they realized the blood that's dripping from their hands because of the way they are allowing themselves to be deluded and manipulated by the system.

 

Noam Chomsky

 

Suppose two-thirds of the members of the national House of Representatives were dumped into the Washington garbage incinerator tomorrow, what would we lose to offset our gain of their salaries and the salaries of their parasites?

 

H. L. Mencken

 

In 1879, American economist Francis Walker tried to explain why members of his profession were in such "bad odor amongst real people". He blamed it on their inability to understand why human behavior fails to comply with economic theory. We do not always act the way economists think we should, mainly because we're both less selfish and less rational than economists think we are. Economists are being indoctrinated into a cardboard version of human nature, which they hold true to such a degree that their own behavior has begun to resemble it. Psychological tests have shown that economics majors are more egoistic than the average college student. Exposure in class after class to the capitalist self-interest model apparently kills off whatever prosocial tendencies these students have to begin with. They give up trusting others, and conversely others give up trusting them. Hence the bad odor.

 

Frans de Waal

 

I use media exposure as a means of playing with multiple personalities. Each interview is a different me and they're all untrustworthy (2000)

 

Grant Morrison