FALLACY: A logical error in an argument or evaluation of a policy. The six common fallacies that surface in economic analysis are: false cause, personal attack, division, composition, false authority, and mass appeal. These fallacies are most troublesome because, although false, they seem correct, especially when used by a slick-talking, charismatic person (politician) or when the fallacies support a preconceived notion or fundamental belief. See also | fallacy of composition | fallacy of division | fallacy of false authority | fallacy of false cause | fallacy of mass appeal | fallacy of personal attack | economic analysis | economic policies | normative economics | positive economics |
