--- title: "Meaning & Key Takeaway of: Economics is not a science; it is a…" description: "\"Economics is not a science; it is a quasi-religion: part superstition, part mystique, part sentimentality. Bankers dream like other men, the only diffe..." image: "https://sms4smile.com/quotes/i/c9d/howard-jacobson-1484_bankers_economics-is-not-a-science-it-is-a-quasi_2531545.jpg" --- # Economics is not a science; it is a quasi-religion: part… ![“Economics is not a science; it is a quasi-religion: part superstition, part mystique, part sentimentality. Bankers dream like other men, the only difference being that when their dreams turn to nightmares, we all lose sleep. There can be no trusting the muttering of any prelate when it comes to…” quote by Howard Jacobson](https://sms4smile.com/quotes/i/c9d/howard-jacobson-1484_bankers_economics-is-not-a-science-it-is-a-quasi_2531545.jpg) [Download](https://sms4smile.com/quotes/i/c9d/howard-jacobson-1484_bankers_economics-is-not-a-science-it-is-a-quasi_2531545.jpg) [Open image](https://sms4smile.com/quotes/i/c9d/howard-jacobson-1484_bankers_economics-is-not-a-science-it-is-a-quasi_2531545.jpg) > “Economics is not a science; it is a quasi-religion: part superstition, part mystique, part sentimentality. Bankers dream like other men, the only difference being that when their dreams turn to nightmares, we all lose sleep. There can be no trusting the muttering of any prelate when it comes to money.” [Howard Jacobson](https://sms4smile.com/quotes/author/howard-jacobson/) ## 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 belief and emotion, resembling religion more than strict science. **In simple terms:** Economics mixes belief with emotion. Key Takeaway Question assumptions about economics. Themes economics belief emotion religion Mood skeptical critical Type analytical philosophical When to use this quote - financial analysis - policy making - investment decisions - public discourse Key Concepts quasi-religion superstition sentimentality Questions to Reflect On - How does belief shape economic policy? - Can economics be truly objective? A Different Perspective Economic models can’t capture human irrationality fully. ★ ★ ★ ★ ★ No ratings yet [Bankers](https://sms4smile.com/quotes/about/bankers/) [Dreams](https://sms4smile.com/quotes/about/dreams/) [Economics](https://sms4smile.com/quotes/about/economics/) [Men](https://sms4smile.com/quotes/about/men/) [Money](https://sms4smile.com/quotes/about/money/) [Science](https://sms4smile.com/quotes/about/science/) ## Related quotes > [A loving and fierce defense of economics as a science.](https://sms4smile.com/quotes/robert-krulwich/a-loving-and-fierce-defense-of-economics-as-a-science/) [Robert Krulwich](https://sms4smile.com/quotes/author/robert-krulwich/) > [“We used to think God made us in His image, and that meant we were special, until science told us we just evolved that…](https://sms4smile.com/quotes/adam-roberts/we-used-to-think-god-made-us-in-his-image-and-that-meant-we-were/) [Adam Roberts](https://sms4smile.com/quotes/author/adam-roberts/) > [Economics has never been a science - and it is even less now than a few years ago.](https://sms4smile.com/quotes/paul-samuelson/economics-has-never-been-a-science-and-it-is-even-less-now-than-a-few/) [Paul Samuelson](https://sms4smile.com/quotes/author/paul-samuelson/) > [“Economics is not a science and should not be there to advise policy.”](https://sms4smile.com/quotes/nassim-nicholas-taleb/economics-is-not-a-science-and-should-not-be-there-to-advise-policy/) [Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/) > [It is clear that economics, if it is to be a science at all, must be a mathematical science.](https://sms4smile.com/quotes/william-stanley-jevons/it-is-clear-that-economics-if-it-is-to-be-a-science-at-all-must-be-a-2/) [William Stanley Jevons](https://sms4smile.com/quotes/author/william-stanley-jevons/) > [What is economics? A science invented by the upper class in order to acquire the fruits of the labor of the underclass](https://sms4smile.com/quotes/august-strindberg/what-is-economics-a-science-invented-by-the-upper-class-in-order-to/) [August Strindberg](https://sms4smile.com/quotes/author/august-strindberg/) > [Contrary to what professional economists will typically tell you, economics is not a science. All economic theories have underlying political and ethical assumptions, which…](https://sms4smile.com/quotes/ha-joon-chang/contrary-to-what-professional-economists-will-typically-tell-you/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) > [Economics is not a science, in the sense that a policy can be repeatedly applied under similar conditions and will repeatedly produce similar results.](https://sms4smile.com/quotes/millicent-fenwick/economics-is-not-a-science-in-the-sense-that-a-policy-can-be/) [Millicent Fenwick](https://sms4smile.com/quotes/author/millicent-fenwick/) > [Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.](https://sms4smile.com/quotes/lionel-charles-robbins/economics-is-the-science-which-studies-human-behaviour-as-a/) Lionel Charles Robbins > [It is clear that Economics, if it is to be a science at all, must be a mathematical science ... simply because it deals…](https://sms4smile.com/quotes/william-stanley-jevons/it-is-clear-that-economics-if-it-is-to-be-a-science-at-all-must-be-a/) [William Stanley Jevons](https://sms4smile.com/quotes/author/william-stanley-jevons/) > [Many of us like to think of financial economics as a science, but complex events like the financial crisis suggest that this conceit may…](https://sms4smile.com/quotes/andrew-lo/many-of-us-like-to-think-of-financial-economics-as-a-science-but/) [Andrew Lo](https://sms4smile.com/quotes/author/andrew-lo/) > [“Recognizing that the boundaries of the market are ambiguous and cannot be determined in an objective way lets us realize that economics is not…](https://sms4smile.com/quotes/ha-joon-chang/recognizing-that-the-boundaries-of-the-market-are-ambiguous-and/) [Ha-Joon Chang](https://sms4smile.com/quotes/author/ha-joon-chang/) > [Water is an astonishingly complex and subtle force in an economy. It is the single constraint on the expansion of every city, and bankers…](https://sms4smile.com/quotes/margaret-catley-carlson/water-is-an-astonishingly-complex-and-subtle-force-in-an-economy-it/) Margaret Catley-Carlson > [“Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises…](https://sms4smile.com/quotes/nassim-nicholas-taleb/suckers-think-that-you-cure-greed-with-money-addiction-with/) [Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/) > [Advances in technology will continue to reach far into every sector of our economy. Future job and economic growth in industry, defense, transportation, agriculture,…](https://sms4smile.com/quotes/christopher-bond/advances-in-technology-will-continue-to-reach-far-into-every-sector/) [Christopher Bond](https://sms4smile.com/quotes/author/christopher-bond/) ## More by Howard Jacobson > [Everything is allowable in literature, but what is not allowable in criticism is objection on the grounds of probability.](https://sms4smile.com/quotes/howard-jacobson/everything-is-allowable-in-literature-but-what-is-not-allowable-in/) [Howard Jacobson](https://sms4smile.com/quotes/author/howard-jacobson/) > [There's a simple arithmetical logic at work. Build more unaffordable and not always architecturally sympathetic apartments, watch the rents rise, the tarts leave, the…](https://sms4smile.com/quotes/howard-jacobson/there-s-a-simple-arithmetical-logic-at-work-build-more-unaffordable/) [Howard Jacobson](https://sms4smile.com/quotes/author/howard-jacobson/) > [The novel is a thing of irony and ambiguity. That's at the heart of 'J', a world that has stopped arguing with itself. We…](https://sms4smile.com/quotes/howard-jacobson/the-novel-is-a-thing-of-irony-and-ambiguity-that-s-at-the-heart-of-j/) [Howard Jacobson](https://sms4smile.com/quotes/author/howard-jacobson/) > [I was a 'reverence for life' man - 'see life steadily and see it whole' - in my days as a lecturer in English…](https://sms4smile.com/quotes/howard-jacobson/i-was-a-reverence-for-life-man-see-life-steadily-and-see-it-whole-in/) [Howard Jacobson](https://sms4smile.com/quotes/author/howard-jacobson/) > [How Donald Trump has come so far with so few words - how he even managed to keep up conversationally with all those beauty…](https://sms4smile.com/quotes/howard-jacobson/how-donald-trump-has-come-so-far-with-so-few-words-how-he-even/) [Howard Jacobson](https://sms4smile.com/quotes/author/howard-jacobson/) > [It is a nonsense to me when people come along and tell me not to be pessimistic; or that culture has always been going…](https://sms4smile.com/quotes/howard-jacobson/it-is-a-nonsense-to-me-when-people-come-along-and-tell-me-not-to-be/) [Howard Jacobson](https://sms4smile.com/quotes/author/howard-jacobson/) > [For me a Writing Day was an occasion for self-reproach and panic, a time to lament the passing of the years, stare out of…](https://sms4smile.com/quotes/howard-jacobson/for-me-a-writing-day-was-an-occasion-for-self-reproach-and-panic-a/) [Howard Jacobson](https://sms4smile.com/quotes/author/howard-jacobson/) > [Even the wordiest of men know there's a time to button it.](https://sms4smile.com/quotes/howard-jacobson/even-the-wordiest-of-men-know-there-s-a-time-to-button-it/) [Howard Jacobson](https://sms4smile.com/quotes/author/howard-jacobson/) > [That a nation's statuary will reflect beliefs and attitudes that are no longer current or congenial hardly needs arguing. In most instances, it doesn't…](https://sms4smile.com/quotes/howard-jacobson/that-a-nation-s-statuary-will-reflect-beliefs-and-attitudes-that-are/) [Howard Jacobson](https://sms4smile.com/quotes/author/howard-jacobson/) > [“Was he a bad man or just a foolish one? He didn't feel bad to himself. As a husband he believed himself to be…](https://sms4smile.com/quotes/howard-jacobson/was-he-a-bad-man-or-just-a-foolish-one-he-didn-t-feel-bad-to-himself/) [Howard Jacobson](https://sms4smile.com/quotes/author/howard-jacobson/) > [The young come in many guises: vigorous and passionate, vindictive and mean-spirited. And not every person over 65 is dozing in a retirement home.](https://sms4smile.com/quotes/howard-jacobson/the-young-come-in-many-guises-vigorous-and-passionate-vindictive-and/) [Howard Jacobson](https://sms4smile.com/quotes/author/howard-jacobson/) > [To a philosopher like Nietzsche, the Jew is culpable not for rejecting Christianity but for inventing it.](https://sms4smile.com/quotes/howard-jacobson/to-a-philosopher-like-nietzsche-the-jew-is-culpable-not-for-rejecting/) [Howard Jacobson](https://sms4smile.com/quotes/author/howard-jacobson/) > [Shakespeare's always been sitting on my back, since I began reading. And, certainly, as a writer, he's who I hear all the time. And…](https://sms4smile.com/quotes/howard-jacobson/shakespeare-s-always-been-sitting-on-my-back-since-i-began-reading/) [Howard Jacobson](https://sms4smile.com/quotes/author/howard-jacobson/) > [A novelist should make you realize nothing is stable. If you don't believe anything with robustness, you're doing something more radical than anything else.](https://sms4smile.com/quotes/howard-jacobson/a-novelist-should-make-you-realize-nothing-is-stable-if-you-don-t/) [Howard Jacobson](https://sms4smile.com/quotes/author/howard-jacobson/) > [The Stop The War Coalition is a sort of home to Jew-haters because its hate music about Israel is so catchy.](https://sms4smile.com/quotes/howard-jacobson/the-stop-the-war-coalition-is-a-sort-of-home-to-jew-haters-because/) [Howard Jacobson](https://sms4smile.com/quotes/author/howard-jacobson/) [Explore all 235 Howard Jacobson quotes ](https://sms4smile.com/quotes/author/howard-jacobson/) ## More Bankers quotes > ['Inequality' has become the political theme/slogan of our time in both Europe and the U.S., yet political leaders do not even bother to consider…](https://sms4smile.com/quotes/paul-singer/inequality-has-become-the-political-theme-slogan-of-our-time-in-both/) [Paul Singer](https://sms4smile.com/quotes/author/paul-singer/) > [The socially redeeming aspect of golf lies in the vast number of lawyers and bankers and managers who play it, and when you think…](https://sms4smile.com/quotes/garrison-keillor/the-socially-redeeming-aspect-of-golf-lies-in-the-vast-number-of/) [Garrison Keillor](https://sms4smile.com/quotes/author/garrison-keillor/) > [What Wall Street and credit card companies are doing is really not much different from what gangsters and loan sharks do who make predatory…](https://sms4smile.com/quotes/bernie-sanders/what-wall-street-and-credit-card-companies-are-doing-is-really-not/) [Bernie Sanders](https://sms4smile.com/quotes/author/bernie-sanders/) > [When a government is dependent upon bankers for money, they and not the leaders of the government control the situation](https://sms4smile.com/quotes/napoleon-bonaparte/when-a-government-is-dependent-upon-bankers-for-money-they-and-not/) [Napoleon Bonaparte](https://sms4smile.com/quotes/author/napoleon-bonaparte/) > [3 people get stranded on a remote Island A Banker, a Daily Mail reader & an Asylum seeker All they have to eat is…](https://sms4smile.com/quotes/christopher-brookmyre/3-people-get-stranded-on-a-remote-island-a-banker-a-daily-mail-reader/) [Christopher Brookmyre](https://sms4smile.com/quotes/author/christopher-brookmyre/) > [“After analyzing our current crisis and studying well-established historical precedents, I must conclude that the global bankers have only three possible cards left to…](https://sms4smile.com/quotes/ziad-k-abdelnour/after-analyzing-our-current-crisis-and-studying-well-established/) [Ziad K. 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