Monday, February 16, 2009

The Lesson

Henry Hazlitt's One Lesson is so simple and yet so disregarded:
The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.

Comprehending this, apparently, is too much to ask of 60 senators and 246 representatives.

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