Why should we, however, in economics, have to plead…
“Why should we, however, in economics, have to plead ignorance of the sort of facts on which, in the case of a physical theory, a scientist would certainly be expected to give precise information?”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Economics must be transparent about its facts, unlike physical sciences where data is precise and observable.
In simple terms: Economics should not hide facts.
Key Takeaway
Demand clear data in economic analysis.
Themes
economics
transparency
knowledge
science
Mood
critical
analytical
Type
philosophical
inspirational
When to use this quote
- policy making
- academic research
- public debate
- financial forecasting
Key Concepts
epistemology
methodology
Questions to Reflect On
- How can economists improve data transparency?
- What are the risks of over‑reliance on precise data?
A Different Perspective
Economic data can be noisy and contested, limiting precision.