Economics Quote by E.F. Schumacher
““Under the tutelage of their economic counselors, political leaders manipulate discount rates and the money supply with all the confidence of space scientists at Cape Kennedy pushing the buttons and throwing the switches which guide rocket ships to the moon.””
About This Quote
Political leaders, guided by advisors, treat monetary policy like a high‑stakes engineering task, believing they can steer economies with the same certainty as space engineers guide rockets.
In simple terms: Monetary policy is portrayed as a precise, high‑risk engineering act.
Key Takeaway
Economic policy is often over‑confident and technically framed.
Themes
Power
Economics
Technology
Risk
Authority
Metaphor
Mood
Skeptical
Cautious
Type
Analytical
Metaphorical
When to use this quote
- Government budgeting
- Central bank rate setting
- Fiscal stimulus planning
- International financial negotiations
- Crisis response
Key Concepts
Monetary policy
Political decision‑making
Economic counseling
Technological analogy
Practical Applications
- Policy analysis
- Economic education
Questions to Reflect On
- How does framing monetary policy as a technical operation affect public trust?
- What are the limits of applying engineering certainty to economic decisions?
A Different Perspective
The analogy may exaggerate the precision of monetary tools, ignoring the inherent uncertainty and political constraints in economic governance.
