'I belong to the don't-know school of economics.'
About this quote
- What does it mean?
- The speaker identifies with the view that economics is too complex to know all the answers definitively.
- In plain terms
- I admit I don't know everything about economics.
- What can you take from it?
- Admit uncertainty in complex fields.
Where it applies
Putting it to work
Questions to consider
- Do you pretend to know?
- How do you show humility?
Another view
Some might see this as an excuse for lack of knowledge.
More from Herbert Stein
'If something cannot go on forever, it will stop.'
Permalink to quote #1 'Economists are very good at saying that something cannot go on forever, but not so good at saying when it will stop.'
Permalink to quote #3
Related quotes
I am on the edge of mysteries and the veil is getting thinner and thinner.
Louis PasteurLouis Pasteur quote #1 If I have not seen as far as others, it is because giants were standing on my shoulders.
Hal AbelsonHal Abelson quote #1 All that we know is still infinitely less than all that still remains unknown.
William HarveyWilliam Harvey quote #2