Ben Bernanke: Economics Engine
on Tuesday, January 18, 2022Ben Bernanke Money Quote saying that learning economics is similar to manufacturing a car while it is being driven. Ben Bernanke said:
“Economics is a very difficult subject. I’ve compared it to trying to learn how to repair a car when the engine is running” — Ben Bernanke
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In this quote, Ben Bernanke is acknowledging that economics is a very challenging field to study and understand. He compares comprehending economics to trying to learn how to fix a car while its engine is running, implying it is difficult to fully analyze an economic system when you are inside it as it is constantly changing and evolving in real-time.
Bernanke seems to be suggesting that the dynamic, fluid nature of economic activity makes the subject difficult to grasp, similar to how repairing a running engine would be complicated.
The quote conveys Bernanke’s view that economics is a complex discipline because the “lab” is the real world economy that cannot be paused for examination like an engine can be turned off.