Economics was like psychology, a pseudoscience trying to hide that fact with intense theoretical hyperelaboration. And gross domestic product was one of those unfortunate measurement concepts, like inches or the British thermal unit, that ought to have been retired long before.

Summary

This quote suggests that economics, similar to psychology, is a pseudoscience that attempts to obscure this truth through complex theories. The comparison implies that both disciplines may lack the rigorous scientific methods typically associated with harder sciences. Additionally, the quote criticizes the concept of gross domestic product (GDP), referring to it as an outdated measurement that should have been replaced a long time ago. This viewpoint implies a dissatisfaction with the reliance on GDP as a key indicator of a country's economic performance.

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