Economists Dissing Economics

Unlearning Economics

For whatever reason, I found myself compiling a list of 20 or so quotes, mostly from well known economists, criticising mainstream economics. What’s most interesting is that although the quotes come from a wide range of economists, with different political views and from different times, they seem to have a lot in common.

The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.

― Joan Robinson

Economics is extremely useful as a form of employment for economists.

― John Kenneth Galbraith

The only function of economic forecasting is to make astrology look respectable.

― John Kenneth Galbraith

…the discipline of economics has yet to get over its childish passion for mathematics and for purely theoretical and often highly ideological speculation, at the expense of historical research and collaboration with the other social sciences.

― Thomas Piketty

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