---
title: "Meaning & Key Takeaway of: Economics is not a science and should not…"
description: "\"“Economics is not a science and should not be there to advise policy.”\" — Nassim Nicholas Taleb"
image: "https://sms4smile.com/quotes/i/c99/nassim-nicholas-taleb-352_advise_economics-is-not-a-science-and-should-no_2777233.png"
---

#  Economics is not a science and should not be there to…

![“Economics is not a science and should not be there to advise policy.” quote by Nassim Nicholas Taleb](https://sms4smile.com/quotes/i/c99/nassim-nicholas-taleb-352_advise_economics-is-not-a-science-and-should-no_2777233.png)   [Download](https://sms4smile.com/quotes/i/c99/nassim-nicholas-taleb-352_advise_economics-is-not-a-science-and-should-no_2777233.png) [Open image](https://sms4smile.com/quotes/i/c99/nassim-nicholas-taleb-352_advise_economics-is-not-a-science-and-should-no_2777233.png)

> ““Economics is not a science and should not be there to advise policy.””

[Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/)

## About This Quote

This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.

Economics lacks scientific rigor and should not guide policy decisions.

**In simple terms:** Economics isn’t a true science, so its policy advice is flawed.

Key Takeaway

Question reliance on economic models for policy.

Themes

economics policy science criticism

Mood

skeptical analytical

Type

critical philosophical

When to use this quote

- government regulation
- financial planning
- education curricula

Key Concepts

epistemology methodology

Questions to Reflect On

- Should economics be reformed or abandoned?
- What alternatives guide policy?

A Different Perspective

Economic insights can still be useful in practice.

★ ★ ★ ★ ★   No ratings yet

[Economics](https://sms4smile.com/quotes/about/economics/) [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/)

> [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/)

> [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…](https://sms4smile.com/quotes/howard-jacobson/economics-is-not-a-science-it-is-a-quasi-religion-part-superstition/)

[Howard Jacobson](https://sms4smile.com/quotes/author/howard-jacobson/)

> [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/)

> [“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/)

> [ The very nature of economics is rooted in nationalism. ... It \[was\] developed ... in the hope of throwing light upon questions of policy.… ](https://sms4smile.com/quotes/joan-robinson/the-very-nature-of-economics-is-rooted-in-nationalism-it-was/)

[Joan Robinson](https://sms4smile.com/quotes/author/joan-robinson/)

> [“Scholars have long debated whether capital markets lead to appropriate levels of saving and investment for future generations.”](https://sms4smile.com/quotes/david-l-weimer/scholars-have-long-debated-whether-capital-markets-lead-to/)

David L. Weimer

## More by Nassim Nicholas Taleb

> [To become a philosopher, start by walking very slowly.](https://sms4smile.com/quotes/nassim-nicholas-taleb/to-become-a-philosopher-start-by-walking-very-slowly/)

[Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/)

> [Wittgenstein's ruler: Unless you have confidence in the ruler's reliability, if you use a ruler to measure a table you may also be using…](https://sms4smile.com/quotes/nassim-nicholas-taleb/wittgenstein-s-ruler-unless-you-have-confidence-in-the-ruler-s/)

[Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/)

> [In politics we face the choice between warmongering, nation-state loving, big-business agents on one hand; and risk-blind, top-down, epistemic arrogant big servants of large…](https://sms4smile.com/quotes/nassim-nicholas-taleb/in-politics-we-face-the-choice-between-warmongering-nation-state/)

[Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/)

> [My nightmare scenario is that the government saves Citibank once again, as well as the other banks, and business resumes as usual. Then, the…](https://sms4smile.com/quotes/nassim-nicholas-taleb/my-nightmare-scenario-is-that-the-government-saves-citibank-once/)

[Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/)

> [Using, as an excuse, others' failure of common sense is in itself a failure of common sense.](https://sms4smile.com/quotes/nassim-nicholas-taleb/using-as-an-excuse-others-failure-of-common-sense-is-in-itself-a/)

[Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/)

> [You know, children philosophize more than adults - and they are critical of adults.](https://sms4smile.com/quotes/nassim-nicholas-taleb/you-know-children-philosophize-more-than-adults-and-they-are-critical/)

[Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/)

> [“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/)

> [“One needs to go out and buy a lottery ticket in order to win. Does it mean that the work involved in the trip…](https://sms4smile.com/quotes/nassim-nicholas-taleb/one-needs-to-go-out-and-buy-a-lottery-ticket-in-order-to-win-does-it/)

[Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/)

> [Individuals should think about the worst-case scenarios and plan for them. The world will be crazier than you think it will be. Put money…](https://sms4smile.com/quotes/nassim-nicholas-taleb/individuals-should-think-about-the-worst-case-scenarios-and-plan-for/)

[Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/)

> [“If you are looking for your misplaced wallet in your living room, in a trial and error mode, you exercise rationality by not looking…](https://sms4smile.com/quotes/nassim-nicholas-taleb/if-you-are-looking-for-your-misplaced-wallet-in-your-living-room-in-a/)

[Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/)

> [“Most humans manage to squander their free time, as free time makes them dysfunctional, lazy, and unmotivated—the busier they get, the more active they…](https://sms4smile.com/quotes/nassim-nicholas-taleb/most-humans-manage-to-squander-their-free-time-as-free-time-makes/)

[Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/)

> [We learn the most from fools ... yet we pay them back with the worst ingratitude.](https://sms4smile.com/quotes/nassim-nicholas-taleb/we-learn-the-most-from-fools-yet-we-pay-them-back-with-the-worst/)

[Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/)

> [We are victims of the post-Enlightenment view that the world functions like a sophisticated machine, to be understood like a textbook engineering problem and…](https://sms4smile.com/quotes/nassim-nicholas-taleb/we-are-victims-of-the-post-enlightenment-view-that-the-world/)

[Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/)

> [“loss of bone density and degradation of the health of the bones also causes aging, diabetes, and, for males, loss of fertility and sexual…](https://sms4smile.com/quotes/nassim-nicholas-taleb/loss-of-bone-density-and-degradation-of-the-health-of-the-bones-also/)

[Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/)

> [“It takes a huge investment in introspection to learn that the thirty or more hours spent “studying” the news last month neither had any…](https://sms4smile.com/quotes/nassim-nicholas-taleb/it-takes-a-huge-investment-in-introspection-to-learn-that-the-thirty/)

[Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/)

[Explore all 635 Nassim Nicholas Taleb quotes ](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/)

## More Advise quotes

> [Choosing a job or business is the same thing. I'm not the best one to advise someone how to make billions of dollars; I…](https://sms4smile.com/quotes/rachel-roy/choosing-a-job-or-business-is-the-same-thing-i-m-not-the-best-one-to/)

[Rachel Roy](https://sms4smile.com/quotes/author/rachel-roy/)

> [Buddhism advises you not to implant feelings that you don’t really have or avoid feelings that you do have. If you are miserable you…](https://sms4smile.com/quotes/anonymous/buddhism-advises-you-not-to-implant-feelings-that-you-don-t-really/)

[Anonymous](https://sms4smile.com/quotes/author/anonymous/)

> [I always advise people not to act upon the advice that I give them.](https://sms4smile.com/quotes/vikrant-parsai/i-always-advise-people-not-to-act-upon-the-advice-that-i-give-them/)

[Vikrant Parsai](https://sms4smile.com/quotes/author/vikrant-parsai/)

> [Sometimes curiosity is a poison, not only for those who drink it but for everyone around it.](https://sms4smile.com/quotes/g-norman-lippert/sometimes-curiosity-is-a-poison-not-only-for-those-who-drink-it-but/)

[G. Norman Lippert](https://sms4smile.com/quotes/author/g-norman-lippert/)

> [Dont ever wrestle with a pig u'll both get dirty but the pig will enj0y it](https://sms4smile.com/quotes/udechukwu-d0navan/dont-ever-wrestle-with-a-pig-u-ll-both-get-dirty-but-the-pig-will/)

Udechukwu D0navan

> [Some writing courses will advise you to write what you know. I've always thought this is very odd advice ... because it means, for…](https://sms4smile.com/quotes/michael-scott/some-writing-courses-will-advise-you-to-write-what-you-know-i-ve/)

[Michael Scott](https://sms4smile.com/quotes/author/michael-scott/)

> [I advise women to invest in real estate. It is the collateral to be preferred above all others, and the safest means of investing…](https://sms4smile.com/quotes/hetty-green/i-advise-women-to-invest-in-real-estate-it-is-the-collateral-to-be/)

Hetty Green

> [You bomb ISIL. You're not trying to bomb innocent people. And that requires intelligence and confidence in our military to be able to develop…](https://sms4smile.com/quotes/barack-obama/you-bomb-isil-you-re-not-trying-to-bomb-innocent-people-and-that/)

[Barack Obama](https://sms4smile.com/quotes/author/barack-obama/)

> [God is a spirit. Jesus was led up of the Spirit to be tempted of the Devil; and it is also true that spirits…](https://sms4smile.com/quotes/charles-bradlaugh/god-is-a-spirit-jesus-was-led-up-of-the-spirit-to-be-tempted-of-the/)

[Charles Bradlaugh](https://sms4smile.com/quotes/author/charles-bradlaugh/)

> [I do not allow fan-fiction. The characters are copyrighted. It upsets me terribly to even think about fan-fiction with my characters. I advise my…](https://sms4smile.com/quotes/anne-rice/i-do-not-allow-fan-fiction-the-characters-are-copyrighted-it-upsets/)

[Anne Rice](https://sms4smile.com/quotes/author/anne-rice/)

> [Only a foolish man wil keep on doing one ting and expect another result](https://sms4smile.com/quotes/gordons/only-a-foolish-man-wil-keep-on-doing-one-ting-and-expect-another/)

Gordons

> [I do believe that where there is a choice between cowardice and non-violence I would advise violence. Thus when my eldest son asked me…](https://sms4smile.com/quotes/mahatma-gandhi/i-do-believe-that-where-there-is-a-choice-between-cowardice-and-non/)

[Mahatma Gandhi](https://sms4smile.com/quotes/author/mahatma-gandhi/)

> [You are lucky in life if you have the right heroes. I advise all of you, to the extent you can, to pick out…](https://sms4smile.com/quotes/warren-buffett/you-are-lucky-in-life-if-you-have-the-right-heroes-i-advise-all-of/)

[Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/)

> [“I don't advise. You mutn't give any weight to what I say, except in so far as your own judgment approves it.”](https://sms4smile.com/quotes/george-gissing/i-don-t-advise-you-mutn-t-give-any-weight-to-what-i-say-except-in-so/)

[George Gissing](https://sms4smile.com/quotes/author/george-gissing/)

> [Parents can only advise their children or point them in the right direction. Ultimately people shape their own characters.](https://sms4smile.com/quotes/anne-frank/parents-can-only-advise-their-children-or-point-them-in-the-right/)

[Anne Frank](https://sms4smile.com/quotes/author/anne-frank/)

Browse all 507 Advise quotes

```json
{
    "@context": "https://schema.org",
    "@graph": [
        {
            "@type": "Quotation",
            "text": "“Economics is not a science and should not be there to advise policy.”",
            "creator": {
                "@type": "Person",
                "name": "Nassim Nicholas Taleb"
            },
            "isPartOf": {
                "@id": "https://sms4smile.com/quotes/#website"
            },
            "url": "https://sms4smile.com/quotes/nassim-nicholas-taleb/economics-is-not-a-science-and-should-not-be-there-to-advise-policy/",
            "about": {
                "@type": "Thing",
                "name": "Advise"
            },
            "@id": "https://sms4smile.com/quotes/nassim-nicholas-taleb/economics-is-not-a-science-and-should-not-be-there-to-advise-policy/#quotation",
            "image": {
                "@type": "ImageObject",
                "@id": "https://sms4smile.com/quotes/i/c99/nassim-nicholas-taleb-352_advise_economics-is-not-a-science-and-should-no_2777233.png",
                "contentUrl": "https://sms4smile.com/quotes/i/c99/nassim-nicholas-taleb-352_advise_economics-is-not-a-science-and-should-no_2777233.png",
                "url": "https://sms4smile.com/quotes/i/c99/nassim-nicholas-taleb-352_advise_economics-is-not-a-science-and-should-no_2777233.png",
                "width": 1080,
                "height": 1080,
                "caption": "“Economics is not a science and should not be there to advise policy.” — Nassim Nicholas Taleb",
                "creditText": "SMS4Smile Quotes",
                "creator": {
                    "@id": "https://sms4smile.com/quotes/#organization"
                }
            }
        },
        {
            "@type": "BreadcrumbList",
            "itemListElement": [
                {
                    "@type": "ListItem",
                    "position": 1,
                    "name": "Home",
                    "item": "https://sms4smile.com/"
                },
                {
                    "@type": "ListItem",
                    "position": 2,
                    "name": "Quotes",
                    "item": "https://sms4smile.com/quotes/"
                },
                {
                    "@type": "ListItem",
                    "position": 3,
                    "name": "Nassim Nicholas Taleb",
                    "item": "https://sms4smile.com/quotes/author/nassim-nicholas-taleb/"
                },
                {
                    "@type": "ListItem",
                    "position": 4,
                    "name": "“Economics is not a science and...",
                    "item": "https://sms4smile.com/quotes/nassim-nicholas-taleb/economics-is-not-a-science-and-should-not-be-there-to-advise-policy/"
                }
            ],
            "@id": "https://sms4smile.com/quotes/nassim-nicholas-taleb/economics-is-not-a-science-and-should-not-be-there-to-advise-policy/#breadcrumb"
        },
        {
            "@type": "WebSite",
            "@id": "https://sms4smile.com/quotes/#website",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "publisher": {
                "@id": "https://sms4smile.com/quotes/#organization"
            }
        },
        {
            "@type": "Organization",
            "@id": "https://sms4smile.com/quotes/#organization",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "logo": {
                "@type": "ImageObject",
                "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png",
                "width": 512,
                "height": 512
            }
        }
    ]
}
```
