Quote by Henry Hazlitt

The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy it consists in tracing the consequences of that policy not merely for one group but for all groups.

The art of economics consists in looking not merely at the i

Summary

This quote highlights the essence of economics, which involves analyzing the repercussions of an act or policy beyond its immediate effects. The true art lies in comprehending the long-term consequences of these decisions, not just for one particular group but for all groups impacted by the policy. It emphasizes the importance of considering the wider influence on society and enabling a more holistic understanding of economic outcomes.

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By Henry Hazlitt

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