Strikerates are often overlooked as a statistical measure of assessment compared to averages. Is this fair?
For batsmen, a higher strikerate would seem to indicate a more aggressive player, but with all other factors equal, does it matter if one has a SR of 55 versus one of 45? Is there an ideal SR for a top level ATG? Does it become a liability at any point?
For bowlers, having an exceptionally low SR almost always comes with a higher ER, like the case for Waqar, Steyn and Rabada. But if the MO of the ATG bowler is to take a wicket over the course of a spell by setting up a batsman, does a higher SR matter at that point?
That's just the math. If two bowlers have the same average, then the one with the lower strikerate will have the higher ER, and vice-versa the one with the lower ER will have the higher strike rate.
Here's what that math ends up meaning for members of a bowling attack though, because whether having a low SR or low ER is better depends on your role:
Case 1) All of the members of the bowling attack have the same / similar averages:
It doesn't matter if you as an individual member of that attack have a low strike rate or a low economy. Your team mates area all equally capable of getting wickets cheaply as you are, so you should play in the way that comes best to you. West Indies pace quartet at it's peak could be an example of this, but it doesn't need to be a great attack, just any "balanced" attack in terms of averages, this will apply.
Case 2) Some of the members of the attack have significantly better averages than others:
If you are the lowest average bowler by far, then you should be the strike bowler. Generally don't waste balls, and try to keep the stumps in play ( McGrath is known for using the "corridor" outside off, but he kept the ball suffocatingly close to them even when not aiming at them, always makes the batsman wary of the one the jags back, and draws false strokes ).
If you are the 4th bowler usually in the attack, and have the highest average, then your job should be the "stock" bowler, keeping it tight. Make sure not to miss your length, and bowl to a more defensive field. Even if you aren't picking up wickets regularly, frustrating the batsman should be your job.
The example of this sort was Pakistan, when Waqar Younis serving as the perfect spearhead. He was best served using the style that he did, attacking the stumps and picking up wickets as quickly as possible, because after Wasim there was a BIG jump in the averages of his third seamer / spinner.
TL;DR : For team spearheads a lower strike rate is better than lower economy, but this effect is lessened if your teammates are closer in quality to you.