Accidents Quote by Henry Hazlitt
“Economics is haunted by more fallacies than any other study known to man. This is no accident. The inherent difficulties of the subject would be great enough in any case, but they are multiplied a thousandfold by a factor that is insignificant in, say, physics, mathematics or medicine - the special pleading of selfish interests.”
About This Quote
Source Book: Economics in One Lesson, Henry Hazlitt, 1946
Economic analysis is distorted by self‑interest, leading to many false beliefs about how markets work.
In simple terms: Self‑interest skews economic truth.
Key Takeaway
Beware bias when studying economics.
Themes
economics
bias
self‑interest
misconception
Mood
critical
analytical
Type
philosophical
inspirational
When to use this quote
- policy making
- academic research
- investment decisions
Key Concepts
public choice
cognitive bias
market failure
Questions to Reflect On
- How does personal gain affect economic theory?
- What safeguards reduce bias?
A Different Perspective
Self‑interest is not the only factor influencing outcomes.
