Two steps of logic

Jeff Tucker writes

Thomas Woods once said to me that the reason people miss fundamental truths about economics is that economic thinking usually requires at least two steps of logic to arrive at truth, whereas the common man is only willing to take one step at most. That’s as good an explanation as I’ve found for why it is that the average person so easily falls into economic fallacy.

I don’t think the “two steps” are limited to economics. That’s why “common sense” is something of a misnomer.

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