John Kay: Should Economists Be Statesmen? (5/5)

The video discusses the influence of economics on decision-making and questions whether economists should lead as statesmen. It highlights the paradox of ideology being promoted in the name of science and compares the skills of lawyers and economists. The conversation concludes with a reflection on the eclecticism needed in complex situations.

What is the main concern when economists are given power and authority in decision-making?

• Their ability to manage resources

• The quality of their perception

• Their understanding of politics

• Their communication skills

What central paradox is discussed in relation to economists as statesmen?

• Lawyers are more eclectic

• Economists lack political skills

• Ideology is promoted in the name of science

• Economists are better than lawyers

Why did the speaker initially prefer economists over lawyers as statesmen?

• Economists are more ethical

• Economists have better decision-making skills

• Economists understand science better

• To prevent lawyers from being statesmen

What characteristic of good lawyers is highlighted as necessary for economists?

• Eclecticism

• Charisma

• Technical knowledge

• Negotiation skills

What is the concluding sentiment expressed in the discussion?

• A need for policy change

• Gratitude for the discussion

• A critique of current practices

• A call for more research