Accounts Quote by Frederic Bastiat
“There is only one difference between a bad economist and a good one: the bad economist confines himself to the visible effect; the good economist takes into account both the effect that can be seen and those effects that must be foreseen.”
About This Quote
Source Essay: Economic Thoughts, Frederic Bastiat, 1850
A good economist considers both immediate, observable outcomes and future, indirect consequences, unlike a bad economist who looks only at what is visible.
In simple terms: Think beyond what you can see.
Key Takeaway
Consider hidden impacts.
Themes
economics
foresight
decisionmaking
Mood
analytical
cautious
Type
advisory
strategic
When to use this quote
- policy analysis
- business strategy
- investment decisions
- environmental planning
Key Concepts
externalities
systems thinking
longterm planning
Questions to Reflect On
- What unseen consequences might your decision create?
- How can you identify indirect effects?
A Different Perspective
Neglecting hidden effects can lead to costly mistakes.
