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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 ...
In a legal dispute, one party is initially presumed to be correct and gets the benefit of the doubt, while the other side bears the burden of proof. When a party bearing the burden of proof meets their burden, the burden of proof switches to the other side. Burdens may be of different kinds for each party, in different phases of litigation.
This theory is closely tied to proof by assertion due to the lack of evidence behind the statement and its attempt to persuade without providing any evidence. Appeal to the stone is a logical fallacy. Specifically, it is an informal fallacy, which means that it relies on inductive reasoning in an argument to justify an assertion.
Economic ethics is the combination of economics and ethics, incorporating both disciplines to predict, analyze, and model economic phenomena.. It can be summarised as the theoretical ethical prerequisites and foundations of economic systems.
Argument from fallacy (also known as the fallacy fallacy) – the assumption that, if a particular argument for a "conclusion" is fallacious, then the conclusion by itself is false. [ 5 ] Base rate fallacy – making a probability judgment based on conditional probabilities , without taking into account the effect of prior probabilities .
G. I. Joe fallacy, the tendency to think that knowing about cognitive bias is enough to overcome it. [66] Gambler's fallacy, the tendency to think that future probabilities are altered by past events, when in reality they are unchanged. The fallacy arises from an erroneous conceptualization of the law of large numbers. For example, "I've ...
An argument from authority [a] is a form of argument in which the opinion of an authority figure (or figures) is used as evidence to support an argument. [1]The argument from authority is a logical fallacy, [2] and obtaining knowledge in this way is fallible.
In economics, a moral hazard is a situation where an economic actor has an incentive to increase its exposure to risk because it does not bear the full costs associated with that risk, should things go wrong. For example, when a corporation is insured, it may take on higher risk knowing that its insurance will pay the