Logical Fallacies in Economics

This time of year is when my mock trial competes so I review my logic.  Here are a couple logical fallacies that I was thinking about.

Tragedy of the Commons.  This is a slippery slope.  If everyone starts doing something then the a whole bunch of bad things will happen.  This is the domino effect used to justify the Vietnam War.  When Bernanke contemplates changing interest rates, he often thinks of the consequences to the markets, consumers, and the world.  Is this a slippery slope?

Fallacy of Composition involves the reasoning that what is true of the part is true of the whole. As an example,  if I were to stand up at a baseball game, then I'll see better. Therefore, if everyone were to stand up, then everyone would be able to see better.


Logical fallacies often lead to some awesome jokes.  If you have any you'd like to share, put them in the comment section.