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Ten examples of sloppy economic thinking

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Ten Examples of Sloppy Economic Thinking

One often hears statements asserting each of the following, and/or these notions are reflected as implicit assumptions embodied in statements or writings by politicians, laymen and even so-called experts. Based on your knowledge of economics and economic analysis, can you explain why or how each of the following involves sloppy economics? (Note: some may involve more than one problematic element)

1. It is important that one have all the pertinent information before he/she makes any important decision.

2. Safety is important. Americans need and deserve products that are 100% safe. Similarly we should make sure that our air and water are completely free of toxic pollutants.

Reference no: EM132244141

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