Economists should be modest and be aware that they are part of the broader social science community. We need to be pragmatic about the methods we use. When we need to do history, we should do history. When we need to study political science, we should study political science.

The quote by Thomas Piketty highlights the importance of humility and interdisciplinarity in the field of economics. He argues that economists should not see themselves as isolated experts with all the answers, but rather as members of the broader social science community. This requires acknowledging that economics is deeply connected to history, politics, sociology, and culture, and cannot be fully understood in isolation.

By saying economists must be pragmatic about the methods they use, Piketty stresses the need for flexibility rather than rigid adherence to mathematical models or abstract theories. He suggests that the questions being studied should determine the approach—sometimes requiring historical analysis, other times political science, and at times economic modeling. This methodological pluralism allows for a more accurate and realistic understanding of complex social issues.

The statement “When we need to do history, we should do history. When we need to study political science, we should study political science” reflects Piketty’s belief that economic phenomena are never purely economic. They are shaped by historical forces, political decisions, and social structures. For him, the study of inequality, wealth, and capitalism demands this broader perspective in order to reveal the full picture.

The origin of this quote lies in Piketty’s own scholarly approach, particularly seen in his influential work “Capital in the Twenty-First Century” (2013). In that book, he relied heavily on historical data and insights from other disciplines to analyze the dynamics of wealth and inequality over centuries. His words embody his intellectual philosophy: that economics should serve society best when it embraces a holistic, cross-disciplinary perspective.