--- title: "Meaning & Key Takeaway of: I think it's hard to understand in…" description: "\"I think it's hard to understand in economics. It's easier to understand on psychology.It's a kind of panic or a sense that the world economy is just no..." image: "https://sms4smile.com/quotes/i/954/david-wessel-28482_chasing_i-think-it-s-hard-to-understand-in-econo_814503.jpg" --- # I think it's hard to understand in economics. It's easier… ![“I think it's hard to understand in economics. It's easier to understand on psychology.It's a kind of panic or a sense that the world economy is just not in as good shape as we thought and so everybody is chasing everybody else.” quote by David Wessel](https://sms4smile.com/quotes/i/954/david-wessel-28482_chasing_i-think-it-s-hard-to-understand-in-econo_814503.jpg) [Download](https://sms4smile.com/quotes/i/954/david-wessel-28482_chasing_i-think-it-s-hard-to-understand-in-econo_814503.jpg) [Open image](https://sms4smile.com/quotes/i/954/david-wessel-28482_chasing_i-think-it-s-hard-to-understand-in-econo_814503.jpg) > “I think it's hard to understand in economics. It's easier to understand on psychology.It's a kind of panic or a sense that the world economy is just not in as good shape as we thought and so everybody is chasing everybody else.” [David Wessel](https://sms4smile.com/quotes/author/david-wessel/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Economic complexities often feel abstract, while psychological factors are more tangible, leading to panic when the economy seems weaker than expected. **In simple terms:** Economics feels abstract; psychology feels concrete. Key Takeaway Recognize psychological drivers in market reactions. Themes economics psychology panic market sentiment Mood anxious reflective Type analytical observational When to use this quote - investor decisions - policy analysis - personal finance - media reporting Key Concepts behavioral economics cognitive bias systemic risk Questions to Reflect On - How do psychological perceptions shape economic confidence? - What can mitigate panic during economic downturns? A Different Perspective Economic data alone may not calm fears without addressing underlying psychology. ★ ★ ★ ★ ★ No ratings yet [Chasing](https://sms4smile.com/quotes/about/chasing/) [Easier](https://sms4smile.com/quotes/about/easier/) [Economics](https://sms4smile.com/quotes/about/economics/) [Economics Easier](https://sms4smile.com/quotes/about/economics-easier-301470/) [Economy](https://sms4smile.com/quotes/about/economy/) [Hard](https://sms4smile.com/quotes/about/hard/) [Kind](https://sms4smile.com/quotes/about/kind/) [Panic](https://sms4smile.com/quotes/about/panic/) [Psychology](https://sms4smile.com/quotes/about/psychology/) [Shapes](https://sms4smile.com/quotes/about/shapes/) [Thinking](https://sms4smile.com/quotes/about/thinking/) [Understand Economics](https://sms4smile.com/quotes/about/understand-economics-301469/) [Understand Psychology](https://sms4smile.com/quotes/about/understand-psychology-301471/) [World](https://sms4smile.com/quotes/about/world/) [World economy](https://sms4smile.com/quotes/about/world-economy/) ## Related quotes > [In economics, it is easier to agree on the data than to agree on causality.](https://sms4smile.com/quotes/moshe-vardi/in-economics-it-is-easier-to-agree-on-the-data-than-to-agree-on/) [Moshe Vardi](https://sms4smile.com/quotes/author/moshe-vardi/) > [We do not need to understand economics in order to experience the benefits of freedom of exchange and production. 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I understand who I am and I know how I interact with other people, but that's a…](https://sms4smile.com/quotes/ted-dibiase-sr/i-understand-the-psychology-of-the-business-i-understand-who-i-am-and/) [Ted DiBiase Sr](https://sms4smile.com/quotes/author/ted-dibiase-sr/) > [“Here is something I understand about psychology, and I think it relates to fiction: if you loosen up your understanding of yourself in some…](https://sms4smile.com/quotes/aimee-bender/here-is-something-i-understand-about-psychology-and-i-think-it/) [Aimee Bender](https://sms4smile.com/quotes/author/aimee-bender/) > [I understand the psychology of the sport, especially inside the ring.](https://sms4smile.com/quotes/randy-orton/i-understand-the-psychology-of-the-sport-especially-inside-the-ring-2/) [Randy Orton](https://sms4smile.com/quotes/author/randy-orton/) > [We scientists have way too much a tendency to simplify problems. I guess it actually comes to us naturally. Take the simplest unit, separate…](https://sms4smile.com/quotes/jonathan-haidt/we-scientists-have-way-too-much-a-tendency-to-simplify-problems-i/) [Jonathan Haidt](https://sms4smile.com/quotes/author/jonathan-haidt/) > [I understand the psychology of the sport, especially inside the ring. From bell to bell, from when my entrance plays and I step through…](https://sms4smile.com/quotes/randy-orton/i-understand-the-psychology-of-the-sport-especially-inside-the-ring/) [Randy Orton](https://sms4smile.com/quotes/author/randy-orton/) > [Nations are always making mistakes because they do not understand each other's psychology.](https://sms4smile.com/quotes/edward-grey-1st-viscount-grey-of-fallodon/nations-are-always-making-mistakes-because-they-do-not-understand/) [Edward Grey, 1st Viscount Grey of Fallodon](https://sms4smile.com/quotes/author/edward-grey-1st-viscount-grey-of-fallodon/) > [God is our shelter and strength, always ready to help us in times of trouble. So we will not be afraid, even if the…](https://sms4smile.com/quotes/glen-rambharack/god-is-our-shelter-and-strength-always-ready-to-help-us-in-times-of/) [Glen Rambharack](https://sms4smile.com/quotes/author/glen-rambharack/) > [I believe the world economy will crash when Russia or China moves to a gold-backed currency. They know that when this thing blows, the…](https://sms4smile.com/quotes/max-keiser/i-believe-the-world-economy-will-crash-when-russia-or-china-moves-to/) [Max Keiser](https://sms4smile.com/quotes/author/max-keiser/) > [“The amount of stored information grows four times faster than the world economy, while the processing power of computers grows nine times faster. Little…](https://sms4smile.com/quotes/viktor-mayer-sch-nberger/the-amount-of-stored-information-grows-four-times-faster-than-the/) [Viktor Mayer-Schönberger](https://sms4smile.com/quotes/author/viktor-mayer-sch-nberger/) ## More by David Wessel > [I think the one thing that's going on here is that people are saying, uh-oh, the Chinese economy might be slowing more than we…](https://sms4smile.com/quotes/david-wessel/i-think-the-one-thing-that-s-going-on-here-is-that-people-are-saying/) [David Wessel](https://sms4smile.com/quotes/author/david-wessel/) > [People have put a lot of faith in the government's ability to get growth going in China. People have this, what I think, illusion…](https://sms4smile.com/quotes/david-wessel/people-have-put-a-lot-of-faith-in-the-government-s-ability-to-get/) [David Wessel](https://sms4smile.com/quotes/author/david-wessel/) > [If you don't have a set of principles that you can explain for what you are doing, then how can anybody know what you're…](https://sms4smile.com/quotes/david-wessel/if-you-don-t-have-a-set-of-principles-that-you-can-explain-for-what/) [David Wessel](https://sms4smile.com/quotes/author/david-wessel/) > [I think that the feel that maybe China is slowing down means it will be buying less from Africa and Latin America. That means…](https://sms4smile.com/quotes/david-wessel/i-think-that-the-feel-that-maybe-china-is-slowing-down-means-it-will/) [David Wessel](https://sms4smile.com/quotes/author/david-wessel/) > [Nobody really knows what the market is going to do, but it sure looks like we are going to have a lot more volatility.](https://sms4smile.com/quotes/david-wessel/nobody-really-knows-what-the-market-is-going-to-do-but-it-sure-looks/) [David Wessel](https://sms4smile.com/quotes/author/david-wessel/) > [I think what the Fed fears is that, if Donald Trump gets big tax cuts and big spending increases that take effect right now,…](https://sms4smile.com/quotes/david-wessel/i-think-what-the-fed-fears-is-that-if-donald-trump-gets-big-tax-cuts/) [David Wessel](https://sms4smile.com/quotes/author/david-wessel/) > [There is the fact that - people have had a lot of confidence that the Chinese leadership could fix what is wrong with their…](https://sms4smile.com/quotes/david-wessel/there-is-the-fact-that-people-have-had-a-lot-of-confidence-that-the/) [David Wessel](https://sms4smile.com/quotes/author/david-wessel/) > [The stock market was relieved that the Fed didn't sound tougher, and the stock market seems to figure that everything they like about Donald…](https://sms4smile.com/quotes/david-wessel/the-stock-market-was-relieved-that-the-fed-didn-t-sound-tougher-and/) [David Wessel](https://sms4smile.com/quotes/author/david-wessel/) > [I think it was seen as a symptom that the Chinese leadership may be really scared about their economy.Why would you want to depend…](https://sms4smile.com/quotes/david-wessel/i-think-it-was-seen-as-a-symptom-that-the-chinese-leadership-may-be/) [David Wessel](https://sms4smile.com/quotes/author/david-wessel/) > [China's stock market is not very big. And yet when stock market has a bad day in China, it seems, Europe has a bad…](https://sms4smile.com/quotes/david-wessel/china-s-stock-market-is-not-very-big-and-yet-when-stock-market-has-a/) [David Wessel](https://sms4smile.com/quotes/author/david-wessel/) > [At some point, people may decide that the U.S. stock market has fallen enough. After all, the U.S. economy seems to be getting better,…](https://sms4smile.com/quotes/david-wessel/at-some-point-people-may-decide-that-the-u-s-stock-market-has-fallen/) [David Wessel](https://sms4smile.com/quotes/author/david-wessel/) > [Chinese don't really believe in markets. They like stability, they like control.](https://sms4smile.com/quotes/david-wessel/chinese-don-t-really-believe-in-markets-they-like-stability-they-like/) [David Wessel](https://sms4smile.com/quotes/author/david-wessel/) > [There is also a concern that there is a lack of demand of oil. And so when commodity prices fall, it's good if you…](https://sms4smile.com/quotes/david-wessel/there-is-also-a-concern-that-there-is-a-lack-of-demand-of-oil-and-so/) [David Wessel](https://sms4smile.com/quotes/author/david-wessel/) > [The only reason you would want your currency to fall, if you could control it, is in order to get more exports.](https://sms4smile.com/quotes/david-wessel/the-only-reason-you-would-want-your-currency-to-fall-if-you-could/) [David Wessel](https://sms4smile.com/quotes/author/david-wessel/) > [I think the Chinese are really amateurs when it comes to running markets.](https://sms4smile.com/quotes/david-wessel/i-think-the-chinese-are-really-amateurs-when-it-comes-to-running/) [David Wessel](https://sms4smile.com/quotes/author/david-wessel/) [Explore all 19 David Wessel quotes ](https://sms4smile.com/quotes/author/david-wessel/) ## More Chasing quotes > [Don't go chasing love because it'd leave you heart-broken.](https://sms4smile.com/quotes/steve-polydor/don-t-go-chasing-love-because-it-d-leave-you-heart-broken/) [Steve Polydor](https://sms4smile.com/quotes/author/steve-polydor/) > [Creativity is like chasing chickens.](https://sms4smile.com/quotes/christoph-niemann/creativity-is-like-chasing-chickens/) [Christoph Niemann](https://sms4smile.com/quotes/author/christoph-niemann/) > [Stop chasing the things you want and embrace all that you already have.](https://sms4smile.com/quotes/anonymous/stop-chasing-the-things-you-want-and-embrace-all-that-you-already-have/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [The people who put you down don't have to stop you from chasing your dreams. Stand up, and prove them wrong.](https://sms4smile.com/quotes/selena-gomez/the-people-who-put-you-down-don-t-have-to-stop-you-from-chasing-your/) [Selena Gomez](https://sms4smile.com/quotes/author/selena-gomez/) > [I say I'm chasing dreams but you know I've been running away from, running away from you.](https://sms4smile.com/quotes/mike-posner/i-say-i-m-chasing-dreams-but-you-know-i-ve-been-running-away-from/) [Mike Posner](https://sms4smile.com/quotes/author/mike-posner/) > [If its meant to be, it will be. End of story. Im not chasing you if you're chasing after someone else.](https://sms4smile.com/quotes/anonymous/if-its-meant-to-be-it-will-be-end-of-story-im-not-chasing-you-if-you/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [I'm chasing my goals, and I haven't been able to make things happen the way I want them to happen. It doesn't feel good,…](https://sms4smile.com/quotes/junior-dos-santos/i-m-chasing-my-goals-and-i-haven-t-been-able-to-make-things-happen/) [Junior dos Santos](https://sms4smile.com/quotes/author/junior-dos-santos/) > [I was kind of like chasing my tail and trying to do the right thing, and was a little bit stupid. Or irresponsible, which…](https://sms4smile.com/quotes/robert-downey-jr/i-was-kind-of-like-chasing-my-tail-and-trying-to-do-the-right-thing/) [Robert Downey, Jr](https://sms4smile.com/quotes/author/robert-downey-jr/) > [Don't loose your respect chasing people who don't care about.!](https://sms4smile.com/quotes/caleb/don-t-loose-your-respect-chasing-people-who-don-t-care-about/) [Caleb](https://sms4smile.com/quotes/author/caleb/) > [“Two things you will never have to chase: True friends & true love.”](https://sms4smile.com/quotes/mandy-hale/two-things-you-will-never-have-to-chase-true-friends-true-love/) [Mandy Hale](https://sms4smile.com/quotes/author/mandy-hale/) > [Instead of being with a person that sincerely cares and wants to be with us, we long for some one who is chasing after…](https://sms4smile.com/quotes/anonymous/instead-of-being-with-a-person-that-sincerely-cares-and-wants-to-be/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [You are always chasing yourself, if you have testing sessions you test it out then but it's also a thing of growing a team.](https://sms4smile.com/quotes/guenther-steiner/you-are-always-chasing-yourself-if-you-have-testing-sessions-you-test/) [Guenther Steiner](https://sms4smile.com/quotes/author/guenther-steiner/) > [ People say, "Look, your book \[Tales and Wisdom from Duck Dynasty's Favorite Uncle\] is about tall tales." And I said, "No, you don't understand,… ](https://sms4smile.com/quotes/si-robertson/people-say-look-your-book-tales-and-wisdom-from-duck-dynasty-s/) [Si Robertson](https://sms4smile.com/quotes/author/si-robertson/) > [I'm not going to stress over you anymore. It really isn't worth it. I've tried to work everything out, but you've ignored it. I'm…](https://sms4smile.com/quotes/anonymous/i-m-not-going-to-stress-over-you-anymore-it-really-isn-t-worth-it-i/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [“The only bad dreams are those not worth chasing.”](https://sms4smile.com/quotes/anonymous/the-only-bad-dreams-are-those-not-worth-chasing/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) [Browse all 1,181 Chasing quotes ](https://sms4smile.com/quotes/about/chasing/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "I think it's hard to understand in economics. 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