Language and Economic Misunderstanding

Interesting post about the nature of language and how it can misconstrue a complex reality and ultimately lead to misunderstandings and poor policy actions by governments.

Muddled thinkers confuse the world of our senses with the way in which it is depicted in language.

Yet as is true of all beneficial institutions, language is imperfect – it has, some might say, its ‘costs.’ Among the ‘costs’ of language is its tendency to cause us to suppose that the abstractions that we describe with words possess a concrete reality that these abstractions don’t possess. 🔥🔥🔥 [flames are my addition]

https://cafehayek.com/2020/05/quotation-of-the-day-3159.html

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