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According to Frédéric Bastiat:
- "There is only one difference between a bad economist and a good one: the bad economist confines himself to the visible effect; the good economist takes into account both the effect that can be seen and those effects that must be foreseen."
Related pages [change]
- Bastiat, Frédéric. (1850). "That Which is Seen, and That Which is Not Seen", cited in Mark Skousen. (2009). The Making of Modern Economics: The Lives and Ideas of the Great Thinkers, p. 95; retrieved 2012-5-23.