When people are attempting to think economically, another trap they may fall into is assuming that because two variables changed sumultaneously, one caused the other to happen.
When politicians attempt to take credit for good economic times with the claim that their policies caused the good ecnomic times to happen, we must be suspicious. Of course we must be equally suspicious if they attempt to pin the blame on their incumbent opponent if bad economic times existed in their opponent's time in office. While their claims may be true, it is perfectly plausible that the policies and the cconomy were unrelated, or that the economy did well or did poorly despite the policies.
more click: Issues in Economics Today
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