Quote by Henry Hazlitt, Economics in One
The bad economist sees only what immediately strikes the eye; the good economist also looks beyond. The bad economist sees only the direct consequences of a proposed course; the good economist looks also at the longer and indirect consequences. The bad economist sees only what the effect of a given policy has been or will be on one particular group; the good economist inquires also what the effect of the policy will be on all groups.http://www.jim.com/econ/chap01p1.html
Summary
This quote emphasizes the difference between a bad economist and a good economist. A bad economist focuses solely on immediate and superficial observations, only considering the direct consequences of a proposed course or the effect on one particular group. However, a good economist possesses a broader perspective, looking beyond the surface and considering the longer and indirect consequences of a course of action, as well as the impact on all groups involved. This quote highlights the importance of thorough analysis and a holistic approach to economic decision-making.
Topics
Economics
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