--- title: "Meaning & Key Takeaway of: No very deep knowledge of economics is…" description: "\"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 rem..." image: "https://sms4smile.com/quotes/i/6c7/ludwig-von-mises-364_economic_no-very-deep-knowledge-of-economics-is-u_1630535.png" --- # No very deep knowledge of economics is usually needed for… ![“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.” quote by Ludwig von Mises](https://sms4smile.com/quotes/i/6c7/ludwig-von-mises-364_economic_no-very-deep-knowledge-of-economics-is-u_1630535.png) [Download](https://sms4smile.com/quotes/i/6c7/ludwig-von-mises-364_economic_no-very-deep-knowledge-of-economics-is-u_1630535.png) [Open image](https://sms4smile.com/quotes/i/6c7/ludwig-von-mises-364_economic_no-very-deep-knowledge-of-economics-is-u_1630535.png) > “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.” [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. 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. ★ ★ ★ ★ ★ No ratings yet [Deep Knowledge](https://sms4smile.com/quotes/about/deep-knowledge-480640/) [Economic](https://sms4smile.com/quotes/about/economic/) [Economics](https://sms4smile.com/quotes/about/economics/) [Economics Foretell](https://sms4smile.com/quotes/about/economics-foretell-480636/) [Economics Usually](https://sms4smile.com/quotes/about/economics-usually-480637/) [Effects](https://sms4smile.com/quotes/about/effects/) [Grasping](https://sms4smile.com/quotes/about/grasping/) [Greater](https://sms4smile.com/quotes/about/greater/) [Ill](https://sms4smile.com/quotes/about/ill/) [Knowledge Economics](https://sms4smile.com/quotes/about/knowledge-economics-480639/) [Liberty](https://sms4smile.com/quotes/about/liberty/) [Needed](https://sms4smile.com/quotes/about/needed/) [Remedy](https://sms4smile.com/quotes/about/remedy/) [Seeds](https://sms4smile.com/quotes/about/seeds/) [Sowing](https://sms4smile.com/quotes/about/sowing/) [Task Economics](https://sms4smile.com/quotes/about/task-economics-480638/) [Tasks](https://sms4smile.com/quotes/about/tasks/) [Very deep](https://sms4smile.com/quotes/about/very-deep/) ## Related quotes > [“The curious task of economics is to demonstrate to men how little they really know about what they imagine the can design.”](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-curious-task-of-economics-is-to-demonstrate-to-men-how-little/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [A study of economics usually reveals that the best time to buy anything is last year.](https://sms4smile.com/quotes/marty-allen/a-study-of-economics-usually-reveals-that-the-best-time-to-buy/) [Marty Allen](https://sms4smile.com/quotes/author/marty-allen/) > [The problem of the modern economy is not a failure of a knowledge of economics; it's a failure of a knowledge of history.](https://sms4smile.com/quotes/john-kenneth-galbraith/the-problem-of-the-modern-economy-is-not-a-failure-of-a-knowledge-of/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) > [“Deep knowledge is to be aware of disturbance before disturbance, to be aware of danger before danger, to be aware of destruction before destruction,…](https://sms4smile.com/quotes/sun-tzu/deep-knowledge-is-to-be-aware-of-disturbance-before-disturbance-to-be/) [Sun Tzu](https://sms4smile.com/quotes/author/sun-tzu/) > [Deep knowledge is not knowledge of the thing itself, but knowledge of a thing like the thing. Then, you gain not one knowledge, but…](https://sms4smile.com/quotes/george-bernard-shaw/deep-knowledge-is-not-knowledge-of-the-thing-itself-but-knowledge-of/) [George Bernard Shaw](https://sms4smile.com/quotes/author/george-bernard-shaw/) > [Knowledge is happiness, because to have knowledge - broad, deep knowledge - is to know true ends from false, and lofty things from low.](https://sms4smile.com/quotes/helen-keller/knowledge-is-happiness-because-to-have-knowledge-broad-deep-knowledge/) [Helen Keller](https://sms4smile.com/quotes/author/helen-keller/) > [I am present at the sowing of the seed of the world. 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Don't worry about whether you're…](https://sms4smile.com/quotes/daniel-quinn/far-and-away-the-most-futile-admonition-christ-ever-offered-was-when/) [Daniel Quinn](https://sms4smile.com/quotes/author/daniel-quinn/) > [I am very glad to hear that the Gardener has saved so much of the St foin seed, & that of the India Hemp.…](https://sms4smile.com/quotes/george-washington/i-am-very-glad-to-hear-that-the-gardener-has-saved-so-much-of-the-st/) [George Washington](https://sms4smile.com/quotes/author/george-washington/) > [Great oaks grow from little acorns. He has a green thumb. He has green fingers. He's sowing his wild oats. Here Ceres' gifts in…](https://sms4smile.com/quotes/alexander-pope/great-oaks-grow-from-little-acorns-he-has-a-green-thumb-he-has-green/) [Alexander Pope](https://sms4smile.com/quotes/author/alexander-pope/) > [Sowing is not as difficult as reaping.](https://sms4smile.com/quotes/johann-wolfgang-von-goethe/sowing-is-not-as-difficult-as-reaping/) [Johann Wolfgang von Goethe](https://sms4smile.com/quotes/author/johann-wolfgang-von-goethe/) > [By sowing frugality we reap liberty, a golden harvest.](https://sms4smile.com/quotes/agesilaus-ii/by-sowing-frugality-we-reap-liberty-a-golden-harvest/) [Agesilaus II](https://sms4smile.com/quotes/author/agesilaus-ii/) > [In a delightful garden, sowing, planting or digging are not hardship but are done with a zeal and a certain pleasure.](https://sms4smile.com/quotes/martin-luther/in-a-delightful-garden-sowing-planting-or-digging-are-not-hardship/) [Martin Luther](https://sms4smile.com/quotes/author/martin-luther/) > [Self-discipline is an act of cultivation. It require you to connect today's actions to tomorrow's results. There's a season for sowing a season for…](https://sms4smile.com/quotes/gary-ryan-blair/self-discipline-is-an-act-of-cultivation-it-require-you-to-connect/) [Gary Ryan Blair](https://sms4smile.com/quotes/author/gary-ryan-blair/) ## More by Ludwig von Mises > [If the members of parliament no longer consider themselves mandatories of the taxpayers but deputies of those receiving salaries, wages, subsidies, doles, and other…](https://sms4smile.com/quotes/ludwig-von-mises/if-the-members-of-parliament-no-longer-consider-themselves/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [Changes in human conditions are brought about by the pioneering of the cleverest and most energetic men. They take the lead and the rest…](https://sms4smile.com/quotes/ludwig-von-mises/changes-in-human-conditions-are-brought-about-by-the-pioneering-of/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [During the 2300 years since Plato, very little opposition has been registered to his ideas.](https://sms4smile.com/quotes/ludwig-von-mises/during-the-2300-years-since-plato-very-little-opposition-has-been/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [“How little one is justified in speaking in this connection of "optimism" and "pessimism" and how much the characterization of liberalism as "optimistic" aims…](https://sms4smile.com/quotes/ludwig-von-mises/how-little-one-is-justified-in-speaking-in-this-connection-of/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [Every step by which an individual substitutes concerted action for isolated action results in an immediate and recognizable improvement in his conditions. The advantages…](https://sms4smile.com/quotes/ludwig-von-mises/every-step-by-which-an-individual-substitutes-concerted-action-for/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [The capitalistic social order, therefore, is an economic democracy in the strictest sense of the word. In the last analysis, all decisions are dependent…](https://sms4smile.com/quotes/ludwig-von-mises/the-capitalistic-social-order-therefore-is-an-economic-democracy-in/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [Without calculation, economic activity is impossible. Since under Socialism economic calculation is impossible, under Socialism there can be no economic activity in our sense…](https://sms4smile.com/quotes/ludwig-von-mises/without-calculation-economic-activity-is-impossible-since-under/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [There is no kind of freedom and liberty other than the kind which the market economy brings about.](https://sms4smile.com/quotes/ludwig-von-mises/there-is-no-kind-of-freedom-and-liberty-other-than-the-kind-which-the/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [Peace and not war is the father of all things.](https://sms4smile.com/quotes/ludwig-von-mises/peace-and-not-war-is-the-father-of-all-things/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [What counts alone is the innovator, the dissenter, the harbinger of things unheard of, the man who rejects the traditional standards and aims at…](https://sms4smile.com/quotes/ludwig-von-mises/what-counts-alone-is-the-innovator-the-dissenter-the-harbinger-of/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [In reality no food is valued solely for its nutritive power and no garment or house solely for the protection it affords against cold…](https://sms4smile.com/quotes/ludwig-von-mises/in-reality-no-food-is-valued-solely-for-its-nutritive-power-and-no/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [All this talk: the state should do this or that, ultimately means: the police should force consumers to behave otherwise than they would behave…](https://sms4smile.com/quotes/ludwig-von-mises/all-this-talk-the-state-should-do-this-or-that-ultimately-means-the/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [The most successful businessmen were often uneducated when measured by the scholastic standards of the teaching profession. But they were equal to their social…](https://sms4smile.com/quotes/ludwig-von-mises/the-most-successful-businessmen-were-often-uneducated-when-measured/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [Two hundred years ago, before the advent of capitalism, a man's social status was fixed from the beginning to the end of his life;…](https://sms4smile.com/quotes/ludwig-von-mises/two-hundred-years-ago-before-the-advent-of-capitalism-a-man-s-social/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) > [Facts per se can neither prove nor refute anything. Everything is decided by the interpretation and explanation of the facts, by the ideas and…](https://sms4smile.com/quotes/ludwig-von-mises/facts-per-se-can-neither-prove-nor-refute-anything-everything-is/) [Ludwig von Mises](https://sms4smile.com/quotes/author/ludwig-von-mises/) [Explore all 637 Ludwig von Mises quotes ](https://sms4smile.com/quotes/author/ludwig-von-mises/) ## More Economic quotes > [It makes no sense to talk of the social obligations of the corporation without reference to its economic obligations. The two are intertwined.](https://sms4smile.com/quotes/lee-r-raymond/it-makes-no-sense-to-talk-of-the-social-obligations-of-the/) [Lee R. Raymond](https://sms4smile.com/quotes/author/lee-r-raymond/) > [Advances in technology will continue to reach far into every sector of our economy. 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