Economic Quote by Gustave de Molinari
“Either this is logical and true, or else the principles on which economic science is based are invalid.”
About This Quote
Source Treatise: The Theory of Economic Justice, 1855
If economic science rests on false premises, its conclusions are invalid.
In simple terms: Wrong foundations lead to wrong conclusions.
Key Takeaway
Base economic theories on sound premises.
Themes
economics
philosophy
logic
Mood
analytical
skeptical
Type
academic
philosophical
When to use this quote
- policy analysis
- academic research
- financial modeling
Key Concepts
methodology
foundational assumptions
theory testing
Questions to Reflect On
- What assumptions underlie current economic models?
- How can we test foundational economic premises?
A Different Perspective
Complex systems may resist simple logical dichotomies.
![“Just between you and me, shouldn’t the World Bank be encouraging MORE migration of the dirty industries to the LDCs [Less Developed Countries]?... I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to that... I’ve always…” quote by Lawrence Summers](https://sms4smile.com/quotes/img-quotes/ac4/lawrence-summers-16940_air_just-between-you-and-me-shouldn-t-the-wo_4703.jpg)
