Quote of the Day: Henry Hazlitt

From Chapter 1 of Hazlitt’s Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics:

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. Nine tenths of the economic fallacies that are working such dreadful harm in the world today are the result of ignoring this lesson.

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