ECONOMIST'S PART

New Zealand Herald, Volume LXXII, Issue 22224, 26 September 1935, Page 14

ECONOMIST'S PART

SOLVING OF PROBLEMS "CRITICISM AND WARNING" The part played by the economist in assisting to solve the country's problems was dealt with by Mr. J. 0. Shearer, lecturer in economics at the Auckland University College, in an address on "The Function of the Economist" given last night under the auspices of the Auckland branch of the Economic Society of Australia and New Zealand. The president, Mr. D. Holderness, presided. The economist, said Mr. Shearer, was looked upon with a certain amount of suspicion and impatience. In times of stress like the present, however, the economist's difficulty was that the type of question ho was asked was never simple, nor could the answer be simple, but the answer always involved benefits and sacrifice and in times of stress sacrifice was not welcomed. His method of approach was largely criticism and there was an impatience for action. The criticism and information he placed at the disposal of the public was essential to action, and when action was taken in conformity with economic principles the objectives were more successfully attained than they would be otherwise. There was a strong case for the simplification of economics being continued, but that simplification was at times very difficult, particularly in times like the present. In all the social sciences this same difficulty was involved—obtaining simplification by experimental means. Economics must be considered not as a set of doctrines, but as a way of thinking in a changing set of doctrines. More progress was being made with short period treatments than in dealing with situations of long duration. The economist was handicapped by the complexity of his subject, but the stage of increasing complexity was passing, especially in the case of the monetary system. The service of the economist was that of stating the consequences of changes and stating both the advantages and the disadvantages. It was not his responsibility to choose between the different ends, and his work to a certain extent was that of warning and criticising.