--- title: "Meaning & Key Takeaway of: Contrary to what professional economists…" description: "\"Contrary to what professional economists will typically tell you, economics is not a science. All economic theories have underlying political and ethic..." image: "https://sms4smile.com/quotes/i/7bc/ha-joon-chang-3497_assumptions_contrary-to-what-professional-economists_2310492.png" --- # Contrary to what professional economists will typically… ![“Contrary to what professional economists will typically tell you, economics is not a science. All economic theories have underlying political and ethical assumptions, which make it impossible to prove them right or wrong in the way we can with theories in physics or chemistry.” quote by Ha-Joon Chang](https://sms4smile.com/quotes/i/7bc/ha-joon-chang-3497_assumptions_contrary-to-what-professional-economists_2310492.png) [Download](https://sms4smile.com/quotes/i/7bc/ha-joon-chang-3497_assumptions_contrary-to-what-professional-economists_2310492.png) [Open image](https://sms4smile.com/quotes/i/7bc/ha-joon-chang-3497_assumptions_contrary-to-what-professional-economists_2310492.png) > “Contrary to what professional economists will typically tell you, economics is not a science. All economic theories have underlying political and ethical assumptions, which make it impossible to prove them right or wrong in the way we can with theories in physics or chemistry.” [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Economics blends values and politics, so it cannot be proven like natural sciences. **In simple terms:** Economics mixes politics and ethics, not pure science. Key Takeaway Recognize the limits of economic claims. Themes economics politics philosophy science ethics Mood skeptical critical Type analytical philosophical When to use this quote - policy analysis - academic debate - public discourse - media commentary Key Concepts methodology assumptions normativity Questions to Reflect On - How do political values shape economic models? - Can economics be more scientific? A Different Perspective Economic claims often lack empirical certainty. ★ ★ ★ ★ ★ No ratings yet [Assumptions](https://sms4smile.com/quotes/about/assumptions/) [Chemistry](https://sms4smile.com/quotes/about/chemistry/) [Economics](https://sms4smile.com/quotes/about/economics/) [Economists](https://sms4smile.com/quotes/about/economists/) [Physics](https://sms4smile.com/quotes/about/physics/) [Political](https://sms4smile.com/quotes/about/political/) [Right or wrong](https://sms4smile.com/quotes/about/right-or-wrong/) [Science](https://sms4smile.com/quotes/about/science/) [Theories](https://sms4smile.com/quotes/about/theories/) ## Related quotes > [Very often, the judgments by ordinary citizens may be better than those by professional economists, being more rooted in reality and less narrowly focused.](https://sms4smile.com/quotes/ha-joon-chang/very-often-the-judgments-by-ordinary-citizens-may-be-better-than/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) > [Some of you may have been hoping that today I would speak about Lucien Bouchard's latest economic theories. 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The failure of all but a few professional…](https://sms4smile.com/quotes/robert-j-shiller/since-the-global-financial-crisis-and-recession-of-2007-2009/) [Robert J. Shiller](https://sms4smile.com/quotes/author/robert-j-shiller/) > [...the institutional arrangement whereby most professional economists are heavily burdened with teaching and administrative duties may militate against a sufficient admixture of the more…](https://sms4smile.com/quotes/sir-henry-roy-forbes-harrod/the-institutional-arrangement-whereby-most-professional-economists/) Sir Henry Roy Forbes Harrod > [Every market has some rules and boundaries that restrict freedom of choice. 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In the pursuit…](https://sms4smile.com/quotes/ludwig-von-mises/the-social-function-of-economic-science-consists-precisely-in/) [Ludwig Von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [Everybody thinks of economics whether he is aware of it or not. In joining a political party or in casting his ballot, the citizen…](https://sms4smile.com/quotes/ludwig-von-mises/everybody-thinks-of-economics-whether-he-is-aware-of-it-or-not-in/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [Irrespective of economic theories, we will take decisions in the larger interest of the poor people.](https://sms4smile.com/quotes/amit-shah/irrespective-of-economic-theories-we-will-take-decisions-in-the/) [Amit Shah](https://sms4smile.com/quotes/author/amit-shah/) ## More by Ha-Joon Chang > [“In no country does the average income give the right picture of how people live but in a country with higher inequality it is…](https://sms4smile.com/quotes/ha-joon-chang/in-no-country-does-the-average-income-give-the-right-picture-of-how/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) > [Sometimes people with strong ideology, whether left-wing or right-wing, refuse to do something simply because they believe it is wrong, when doing it actually…](https://sms4smile.com/quotes/ha-joon-chang/sometimes-people-with-strong-ideology-whether-left-wing-or-right-wing/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) > [Every market has some rules and boundaries that restrict freedom of choice. A market looks free only because we so unconditionally accept its underlying…](https://sms4smile.com/quotes/ha-joon-chang/every-market-has-some-rules-and-boundaries-that-restrict-freedom-of/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) > [Indeed, willingness to challenge professional economists and other experts is a foundation stone of democracy. If all we have to do is to listen…](https://sms4smile.com/quotes/ha-joon-chang/indeed-willingness-to-challenge-professional-economists-and-other/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) > [If we are really serious about preventing another crisis like the 2008 meltdown we should simply ban complex financial instruments, unless they can be…](https://sms4smile.com/quotes/ha-joon-chang/if-we-are-really-serious-about-preventing-another-crisis-like-the/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) > [“Harry S. Truman, in his typical no-nonsense style, once said that ‘An expert is someone who doesn’t want to learn anything new, because then…](https://sms4smile.com/quotes/ha-joon-chang/harry-s-truman-in-his-typical-no-nonsense-style-once-said-that-an/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) > [Rational thinking is an important aspect of human nature, but we have imagination, we have ambition, we have irrational fear, we are swayed by…](https://sms4smile.com/quotes/ha-joon-chang/rational-thinking-is-an-important-aspect-of-human-nature-but-we-have/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) > [The history of capitalism has been so totally re-written that many people in the rich world do not perceive the historical double standards involved…](https://sms4smile.com/quotes/ha-joon-chang/the-history-of-capitalism-has-been-so-totally-re-written-that-many/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) > [Equality of opportunity is meaningless for those who do not have the capabilities to take advantage of it.](https://sms4smile.com/quotes/ha-joon-chang/equality-of-opportunity-is-meaningless-for-those-who-do-not-have-the/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) > [The higher education system in these countries (US, Korea etc) has become like a theatre in which some people decided to stand to get…](https://sms4smile.com/quotes/ha-joon-chang/the-higher-education-system-in-these-countries-us-korea-etc-has/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) > [What free-market economists are not telling us is that the politics they want to get rid of are none other than those of democracy…](https://sms4smile.com/quotes/ha-joon-chang/what-free-market-economists-are-not-telling-us-is-that-the-politics/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) > [ “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… ](https://sms4smile.com/quotes/ha-joon-chang/joseph-schumpeter-emphasized-that-all-analysis-in-economics-is/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) > [“All technical professionals have an incentive to make themselves look more complicated than they are so that they can justify the high fees their…](https://sms4smile.com/quotes/ha-joon-chang/all-technical-professionals-have-an-incentive-to-make-themselves-look/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) > [I'm not an anti-capitalist, or anarchist. I want capitalism to work.](https://sms4smile.com/quotes/ha-joon-chang/i-m-not-an-anti-capitalist-or-anarchist-i-want-capitalism-to-work/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) > [“all technical professions have an incentive to make themselves look more complicated than they really are so that they can justify the high fees…](https://sms4smile.com/quotes/ha-joon-chang/all-technical-professions-have-an-incentive-to-make-themselves-look/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) [Explore all 129 Ha-Joon Chang quotes ](https://sms4smile.com/quotes/author/ha-joon-chang/) ## More Assumptions quotes > [There was a lot of stress and assumptions made without me even saying anything, which was very upsetting.](https://sms4smile.com/quotes/craig-stevens/there-was-a-lot-of-stress-and-assumptions-made-without-me-even-saying/) [Craig Stevens](https://sms4smile.com/quotes/author/craig-stevens/) > [When assumptions were made that I was going to bail out there was a little part of my brain that thought 'I am going…](https://sms4smile.com/quotes/craig-stevens/when-assumptions-were-made-that-i-was-going-to-bail-out-there-was-a/) [Craig Stevens](https://sms4smile.com/quotes/author/craig-stevens/) > [“One should not make more assumptions than are absolutely necessary.”](https://sms4smile.com/quotes/ian-kerner/one-should-not-make-more-assumptions-than-are-absolutely-necessary/) Ian Kerner > [I think facts remove assumptions.](https://sms4smile.com/quotes/monty-williams/i-think-facts-remove-assumptions/) [Monty Williams](https://sms4smile.com/quotes/author/monty-williams/) > [“While you judge me by my outward appearance I am silently doing the same to you, even though there's a ninety-percent chance that in…](https://sms4smile.com/quotes/richelle-e-goodrich/while-you-judge-me-by-my-outward-appearance-i-am-silently-doing-the/) [Richelle E. Goodrich](https://sms4smile.com/quotes/author/richelle-e-goodrich/) > [“Civilizaton rests on the assumption that the universe is kindly disposed towards mankind and intended for our benefit. Imagine the upheaval were it to…](https://sms4smile.com/quotes/james-lovegrove/civilizaton-rests-on-the-assumption-that-the-universe-is-kindly/) [James Lovegrove](https://sms4smile.com/quotes/author/james-lovegrove/) > [For me, filmmaking is not about making statements but about exposing human behavior so people are eager enough to start thinking on their own…](https://sms4smile.com/quotes/yorgos-lanthimos/for-me-filmmaking-is-not-about-making-statements-but-about-exposing/) [Yorgos Lanthimos](https://sms4smile.com/quotes/author/yorgos-lanthimos/) > [“The problem with making assumptions is that we believe they are the truth. We could swear they are real.”](https://sms4smile.com/quotes/miguel-ruiz/the-problem-with-making-assumptions-is-that-we-believe-they-are-the/) [Miguel Ruiz](https://sms4smile.com/quotes/author/miguel-ruiz/) > [People just assume, over the years, that soccer players are not too intelligent. As with most assumptions, they're wrong.](https://sms4smile.com/quotes/david-beckham/people-just-assume-over-the-years-that-soccer-players-are-not-too/) [David Beckham](https://sms4smile.com/quotes/author/david-beckham/) > [The explanation requiring the fewest assumptions is most likely to be correct.](https://sms4smile.com/quotes/anonymous/the-explanation-requiring-the-fewest-assumptions-is-most-likely-to-be/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [“Words in the head are sticky and social creatures – when you finally pull one out, you're liable to get lots of bits of…](https://sms4smile.com/quotes/greg-carlson/words-in-the-head-are-sticky-and-social-creatures-when-you-finally/) [Greg Carlson](https://sms4smile.com/quotes/author/greg-carlson/) > [“The professor argues against measuring effectiveness in the shallow short-term in the "fierce humanities," for teaching that seeks not merely learning, but unlearning, that…](https://sms4smile.com/quotes/cary-nelson/the-professor-argues-against-measuring-effectiveness-in-the-shallow/) Cary Nelson > [I'm like anyone; I make a lot of my assumptions about actors I don't know from what I read about them. And then I'll…](https://sms4smile.com/quotes/mark-strong/i-m-like-anyone-i-make-a-lot-of-my-assumptions-about-actors-i-don-t/) [Mark Strong](https://sms4smile.com/quotes/author/mark-strong/) > [One thing that irritates me is when people kind of make assumptions.](https://sms4smile.com/quotes/simon-pegg/one-thing-that-irritates-me-is-when-people-kind-of-make-assumptions/) [Simon Pegg](https://sms4smile.com/quotes/author/simon-pegg/) > [“To assume is to presume.”](https://sms4smile.com/quotes/jude-morgan/to-assume-is-to-presume/) [Jude Morgan](https://sms4smile.com/quotes/author/jude-morgan/) [Browse all 393 Assumptions quotes ](https://sms4smile.com/quotes/about/assumptions/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Contrary to what professional economists will typically tell you, economics is not a science. 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