Cut Quote by Ha-Joon Chang
“People tend to think that numbers are quite objective, but numbers in economics are not like this. Some economists say they're like sausages: you don't know what they really are until you cut into them.”
About This Quote
Source Book: Economics: The User’s Guide, 2014
Economic data are constructed, not purely objective; they reflect underlying choices.
In simple terms: Numbers in economics are shaped by decisions.
Key Takeaway
Question data assumptions.
Themes
economics
data
interpretation
Mood
critical
analytical
Type
academic
informative
When to use this quote
- budget planning
- academic research
- public reporting
Key Concepts
Statistical analysis
policy making
Questions to Reflect On
- How do you verify economic data?
- What assumptions underlie your metrics?
A Different Perspective
Complex models can obscure bias.
![“Joseph Schumpeter emphasized that all analysis in economics is preceded by a pre-analytical cognitive act, called vision, in which the analyst ‘visualise[s] a distinct set of coherent phenomena as a worth-while object of [his] analytic efforts’. He pointed out that ‘this vision is ideological…” quote by Ha-Joon Chang](https://sms4smile.com/quotes/img-quotes/828/ha-joon-chang-3497_dreams_joseph-schumpeter-emphasized-that-all-an_438236.jpg)
