The bad economist sees only what immediately strikes the…
“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”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
A good economist examines both immediate and long‑term, direct and indirect effects of policies on all groups, unlike a bad economist who focuses only on obvious, short‑term outcomes for a single group.
In simple terms: Look beyond immediate impacts to all consequences.
Key Takeaway
Consider broader, longer‑term effects.
Themes
economics
policy analysis
systems thinking
Mood
analytical
critical
Type
educational
strategic
When to use this quote
- public policy
- business strategy
- environmental planning
- social programs
Key Concepts
externalities
distributional effects
future planning
Questions to Reflect On
- What indirect effects might a new policy have?
- How can you ensure all groups are considered?
A Different Perspective
Complex models may be difficult to communicate to non‑experts.