Fallacies

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"In the economic sphere, an act, a habit, an institution, a law produces not only one effect, but a series of effects. Of these effects, the first alone is immediate; it appears simultaneously with its cause; it is seen. The other effects unfold only subsequently; they are not seen. Between a bad and a good economist, this is the whole difference: one confines himself to the visible effect; the other takes into account both the effect that can be seen and those effects that must be foreseen."

— Bastiat, Frédéric event 1850

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Economics in One Lesson

person Hazlitt, Henry event 1946

Classic introduction to economic thinking, demonstrating that good economics considers both the immediate effects and the longer-term effects on al...

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Aristotle

event 384 BC - 322 BC

Ancient Greek philosopher, logician, and polymath who founded the study of formal logic and identified key logical fallacies

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Ad Hominem Fallacy

A logical fallacy in which an argument is rejected or dismissed not by addressing its substance, but by attacking the character, motives, or person...

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The Broken Window Fallacy

A logical error in economic reasoning first described by Frédéric Bastiat in his 1850 essay

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The Cantillon Effect

The Cantillon Effect is an economic concept explaining how newly created money does not affect everyone equally. When new money enters the economy,...

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Strawman Fallacy

A logical fallacy in which someone misrepresents or distorts another person's argument, making it easier to attack. Instead of addressing the actua...

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