Economists have allowed themselves to walk into a trap where we say we can forecast, but no serious economist thinks we can. You don't expect dentists to be able to forecast how many teeth you'll have when you're 80. You expect them to give good advice and fix problems.

I never understand why 'economist makes forecast' is ever a headline. Whether the economist in question is from the International Monetary Fund, a City forecasting group or the Treasury - a forecast is still not news.

The people sensible enough to give good advice are usually sensible enough to give none.

Well, I don't give it out very often, but I reject the notion that you have to be a practitioner to give good advice.

To profit from good advice requires more wisdom than to give it.

The supermarket chain Whole Foods has quite a radical employee empowerment program, where employees get to decide whether another employee can work in their team or not. If they think this person's a slacker, doesn't have good ideas, they can vote and say, no, we don't want this person to be working with us on the vegetable aisle.