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False attribution may refer to: Misattribution in general, when a quotation or work is accidentally, traditionally, or based on bad information attributed to the wrong person or group A specific fallacy where an advocate appeals to an irrelevant, unqualified, unidentified, biased, or fabricated source in support of an argument.
In economics, a false economy or hallucinated economy is an action that does save money at the beginning but which, over a longer period of time, results in more money being spent or wasted than being saved. For example, it may be false economy if a city government decided to purchase the cheapest automobiles for use by city workers to save ...
Non-financial assets, such as land and buildings, may also be included. For example, dictionary definitions of money include "wealth reckoned in terms of money" and "persons or interests possessing or controlling great wealth", [8] neither of which correspond to the economic definition.
Examples of such price stickiness in particular markets include wage rates in labour markets and posted prices in markets deviating from perfect competition. Some specialised fields of economics deal in market failure more than others. The economics of the public sector is one example. Much environmental economics concerns externalities or ...
Quoting out of context (sometimes referred to as contextomy or quote mining) is an informal fallacy in which a passage is removed from its surrounding matter in such a way as to distort its intended meaning. [1] Context may be omitted intentionally or accidentally, thinking it to be non-essential.
Several theories predict the fundamental attribution error, and thus both compete to explain it, and can be falsified if it does not occur. Some examples include: Just-world fallacy. The belief that people get what they deserve and deserve what they get, the concept of which was first theorized by Melvin J. Lerner in 1977. [11]
Keynesian economics advocates the use of automatic and discretionary countercyclical policies to lessen the impact of the business cycle. One example of an automatically countercyclical fiscal policy is progressive taxation. By taxing a larger proportion of income when the economy expands, a progressive tax tends to decrease demand when the ...
Polanyi argued that the term economics has two meanings: the formal meaning refers to economics as the logic of rational action and decision-making, as a rational choice between the alternative uses of limited (scarce) means. The second, substantive meaning, however, presupposes neither rational decision-making nor conditions of scarcity.