Economics pretends to be a science. Its practitioners fill blackboards with equations and clog computers with data. But it is really a faith, or more accurately a set of overlapping and squabbling faiths, each with its own doctrines.

In this quote, Alex Berenson critiques the field of economics, suggesting that it often presents itself as a science but is, in reality, more of a faith. He points out that while economists use equations and data to support their theories, these tools do not necessarily lend the discipline the objectivity and certainty associated with true science. Instead, Berenson argues that economics is rooted in beliefs or doctrines that often differ and conflict, much like religious faiths. This comparison highlights the idea that economic theories, though presented as objective, are deeply influenced by subjective perspectives and assumptions.

Berenson’s remark about economics being a faith suggests that it is based on ideologies and assumptions that cannot always be empirically proven. He emphasizes the overlapping and squabbling nature of different economic schools of thought, implying that economists often disagree on fundamental principles, much like different religions or belief systems. This disagreement points to the lack of consensus within the field and questions whether economics can truly be called a science if its foundational ideas are based more on belief than on unassailable evidence.

The origin of this quote reflects Berenson’s critical stance on economic theories and his skepticism towards their claims of being scientific. He challenges the prevailing view that economics is a hard science, much like physics or chemistry, and instead sees it as a field deeply influenced by human judgment and cultural assumptions. By labeling economics as a set of competing faiths, Berenson underscores how the discipline’s practitioners may be more committed to their particular interpretations of economic systems than to the objective pursuit of truth.

Ultimately, Berenson’s quote invites a deeper examination of economics as a discipline. It suggests that rather than being a neutral or purely empirical field, it is shaped by beliefs, biases, and differing schools of thought, making it more subjective than many realize. This perspective encourages skepticism about the ability of economics to offer universally applicable truths and calls for a more nuanced understanding of its methods and conclusions.