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 economists 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 β¨ Henry Hazlitt (2010). Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics, p.12, Crown Business
More Author Quotes
- If precious metals had been abundant, they would not have been precious. β¨ Henry Hazlitt (1959). The failure of the new economics: an analysis of the Keynesian fallacies
- The great merit of gold is precisely that it is scarce; that its quantity is limited by nature; that it is costly to discover, to mine, and to process; and that it cannot be created by political fiat β¦ βΆ
- The whole gospel of Karl Marx can be summed up in a single sentence: Hate the man who is better off than you are. Never under any circumstances admit that his success may be due to his own efforts, t β¦ βΆ
- The times call for courage. The times call for hard work. But if the demands are high, it is because the stakes are even higher. They are nothing less than the future of human liberty, which means th β¦ βΆ
- The first requisite of a sound monetary system is that it put the least possible power over the quantity or quality of money in the hands of the politicians.
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