Economic Quote by Ludwig von Mises
“No very deep knowledge of economics is usually needed for grasping the immediate effects of a measure; but the task of economics is to foretell the remoter effects, and so to allow us to avoid such acts as attempt to remedy a present ill by sowing the seeds of a much greater ill for the future.”
About This Quote
Source Book: Human Action by Ludwig von Mises, 1949
Economics must predict long‑term consequences, not just immediate effects, to avoid worsening problems.
In simple terms: Think beyond short‑term fixes.
Key Takeaway
Consider future impacts of policies.
Themes
economics
policy
long‑term thinking
Mood
analytical
cautious
Type
philosophical
instructive
When to use this quote
- legislation
- tax reforms
- social programs
- environmental regulation
Key Concepts
causality
unintended consequences
intertemporal trade‑offs
Questions to Reflect On
- What hidden costs might current policies create?
- How can we improve foresight in economic planning?
A Different Perspective
Predicting distant effects is often uncertain.
![“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)
