Data Quote by Murray Rothbard
“Declines in specific industries can never ignite a general depression. Shifts in data will cause increases in activity in one field, declines in another.”
About This Quote
Source Book: Man, Economy, and State, 1962
Economic cycles in one sector do not automatically trigger a broader recession; sectoral shifts can offset each other.
In simple terms: Sector declines don’t cause overall depression.
Watch for cross‑industry dynamics.
Themes
Mood
Type
When to use this quote
- policy making
- investment decisions
- risk assessment
- portfolio diversification
Key Concepts
Questions to Reflect On
- How do you identify compensating growth?
- What indicators reveal hidden sectoral risk?
Sectoral booms may mask underlying weaknesses.