Search results
Results from the WOW.Com Content Network
The fallacy of composition is an informal fallacy that arises when one infers that something is true of the whole from the fact that it is true of some part of the whole. A trivial example might be: "This tire is made of rubber; therefore, the vehicle of which it is a part is also made of rubber."
The paradox of thrift is an example of the fallacy of composition, the idea that what is true of the parts must always be true of the whole. The narrow claim transparently contradicts the fallacy, and the broad one does so by implication, because while individual thrift is generally averred to be good for the individual, the paradox of thrift ...
The economistic fallacy is a concept originated by Karl Polanyi in the 1950s, that refers to fallacious conflation of human economy in general, with its market form. [1] Whereas the former is a necessary component of any society, being the organization through which that society meets its physical wants, i.e. reproduces itself, the latter is a ...
Naturalistic fallacy fallacy is a type of argument from fallacy. Straw man fallacy – refuting an argument different from the one actually under discussion, while not recognizing or acknowledging the distinction. [110] Texas sharpshooter fallacy – improperly asserting a cause to explain a cluster of data. [111]
Pages for logged out editors learn more. Contributions; Talk; Fallacy of composition (economics)
Hartley, however, finds these reasons for representative agent modelling unconvincing. Kirman [2] too, is critical of the representative agent approach in economics. Because representative agent models simply ignore valid aggregation concerns, they sometimes commit the so-called fallacy of composition. He provides an example in which the ...
Fallacy of insufficient sample; Generalization from the particular; Leaping to a conclusion; Blanket statement; Hasty induction; Law of small numbers; Unrepresentative sample; Secundum quid; When referring to a generalization made from a single example, the terms fallacy of the lonely fact, [8] or the fallacy of proof by example, might be used. [9]
The parable seeks to show how opportunity costs, as well as the law of unintended consequences, affect economic activity in ways that are unseen or ignored. The belief that destruction is good for the economy is consequently known as the broken window fallacy or glazier's fallacy.