Expertise is very limited, the arrogance of omniscience is dangerous

One receives the Nobel Prize in economics for research in a specific area, Milton Friedman used to say, but prize winners then tend to believe that they’ve been implicitly granted the right to express their personal, nonscientific opinions about everything. Stiglitz’s Nobel Prize on market asymmetry was well deserved. His opinions on everything else are just opinions and deserve to be treated as such.-Guy Sorman, a City Journal contributing editor