--- title: "Meaning & Key Takeaway of: The only inexplicable aspect of the…" description: "\"“The only inexplicable aspect of the process was that economic theory (which is, after all, what economics students were supposed to know) served almos..." image: "https://sms4smile.com/quotes/i/0e0/michael-lewis-705_economic-theory_the-only-inexplicable-aspect-of-the-proc_90285.png" --- # The only inexplicable aspect of the process was that… ![“The only inexplicable aspect of the process was that economic theory (which is, after all, what economics students were supposed to know) served almost no function in an investment bank. The bankers used economics as a sort of standardized test of general intelligence.” quote by Michael Lewis](https://sms4smile.com/quotes/i/0e0/michael-lewis-705_economic-theory_the-only-inexplicable-aspect-of-the-proc_90285.png) [Download](https://sms4smile.com/quotes/i/0e0/michael-lewis-705_economic-theory_the-only-inexplicable-aspect-of-the-proc_90285.png) [Open image](https://sms4smile.com/quotes/i/0e0/michael-lewis-705_economic-theory_the-only-inexplicable-aspect-of-the-proc_90285.png) > ““The only inexplicable aspect of the process was that economic theory (which is, after all, what economics students were supposed to know) served almost no function in an investment bank. The bankers used economics as a sort of standardized test of general intelligence.”” [Michael Lewis](https://sms4smile.com/quotes/author/michael-lewis/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. In investment banking, economics is often used as a proxy for intelligence rather than a practical tool for decision‑making. **In simple terms:** Economics serves as a credential test. Key Takeaway Banks prioritize perceived intellect over applied theory. Themes finance economics human resources culture skill assessment Mood critical skeptical insightful Type observational critical analytical When to use this quote - recruitment strategy - training program design - organizational audit Key Concepts credentialism practical irrelevance Practical Applications - HR policy review - skill‑mapping Questions to Reflect On - Why do firms favor academic signals? - How can practical expertise be better valued? 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