Quote by Henry Hazlitt

Economics is haunted by more fallacies than any other study known to man. This is no accident. The inherent difficulties of the subject would be great enough in any case, but they are multiplied a thousandfold by a factor that is insignificant in , say, physics, mathematics, or medicine -- the special pleading of selfish interests.

Economics is haunted by more fallacies than any other study

Summary

This quote by economist Henry Hazlitt suggests that economics is plagued by numerous misconceptions or false beliefs more than any other field of study. Hazlitt argues that this is not a coincidence, but a result of the inherent challenges involved in studying economics. Additionally, he claims that these difficulties are further exacerbated by the influence of biased and self-interested individuals who try to distort economic analysis to their advantage. Compared to physics, mathematics, or medicine, economics is uniquely susceptible to these special interests and their attempts to manipulate the discipline.

Topics

Economics

By Henry Hazlitt

Liked the quote? Share it with your friends.

Random Quotations

If we really think that home is elsewhere and that this life

If we really think that home is elsewhere and that this life is a wandering to find home, why should we not look forward to the arrival?

Death

Methink'st thou art a general offence and every man should b

Methink'st thou art a general offence and every man should beat thee.

William Shakespeare

Violence Insults

I set out to show that there exists single creative activity

I set out to show that there exists single creative activity,which is displayed alike in the arts and in the sciences.It is wrong to think of science as a mechanical record of facts, and it is wrong to think of the arts as remote and private fancies. What makes each human, what makes them universal, is the stamp of the creative mind.

Jacob Bronowski, Science and Hum

Creativity

On a level of simple personal survival, understanding and fo

On a level of simple personal survival, understanding and forgiveness are crucial... whether in an intimate personal relationship or on a global level.

Beauty

Now, one of the most essential branches of English liberty i

Now, one of the most essential branches of English liberty is the freedom of one's house.

Freedom

To me luxury is to be at home with my daughter, and the occa

To me luxury is to be at home with my daughter, and the occasional massage doesn't hurt.

Olivia Newton-John

Home

Education should prepare our minds to use its own powers of

Education should prepare our minds to use its own powers of reason and conception rather than filling it with the accumulated misconceptions of the past.

Bryant H. McGill

Education

Dreaming is an act of pure imagination, attesting in all men

Dreaming is an act of pure imagination, attesting in all men a creative power, which if it were available in waking, would make every man a Dante or Shakespeare.

Frederick Henry Hedge

Beyonce is the most amazing woman in the world.

Beyonce is the most amazing woman in the world.

Amazing

Hanging is too good for him said Mr. Cruelty.

Hanging is too good for him said Mr. Cruelty.

Punishment

I like to be bought flowers and taken out for dinner. I like

I like to be bought flowers and taken out for dinner. I like a man to be a gentleman. I don't like to be treated as if I am brainless. I like to be respected and to give respect.

Respect

How many things we held yesterday as articles of faith which

How many things we held yesterday as articles of faith which today we tell as fables.

Michel de Montaigne

Faith