单词 | fallacy of composition |
释义 | fallacy of compositionfallacy of compositionan error in economic thinking that often arises when it is assumed that what holds true for an individual or part must also hold true for a group or whole. For example, if a small number of people save more of their income, this might be considered to be a ‘good thing’ because more funds can be made available to finance investment. But if everybody attempts to save more, this will reduce total spending and income and result in a fall in total saving. See PARADOX OF THRIFT. |
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