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Are Architects Still Worth It?

(Photo: REVIVALthedigest)

A reader named Marc Krawitz writes in with a question. Does anyone have an answer for him?

I’m a recent architecture school graduate, and just wondering:

Given laws in America that don’t specifically require an architect to stamp drawings (as opposed to Europe), are architects economically valuable to a housing and building market/culture that strives for bottom dollar and cheap/fast returns?  Assuming that hiring an architect has a positive impact on a project, is the time and financial investment on the part of the client worth it in the long run?

Related: Michael Graves writes about the death of drawing in architecture.