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AGGREGATE DEMAND CURVE: A graphical representation of the relation between aggregate expenditures on real production and the price level, holding all ceteris paribus aggregate demand determinants constant. The aggregate demand, or AD, curve is one side of the graphical presentation of the aggregate market. The other side is occupied by the aggregate supply curve (which is actually two curves, the long-run aggregate supply curve and the short-run aggregate supply curve). The negative slope of the aggregate demand curve captures the inverse relation between aggregate expenditures on real production and the price level. This negative slope is attributable to the interest-rate effect, real-balance effect, and net-export effect.
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                           FALLACY OF PERSONAL ATTACK: The logical fallacy of arguing that something is bad because someone "associated" with the thing is ugly, has a funny nose, drives a foreign car, regularly watches daytime soap operas, or wears outdated clothing. This fallacy of personal attack runs rampant in the political arena. Some politicians promote the notion that only good people propose good policies, while bad people have bad policies. The fact of the matter is that good people propose bad policies and bad people propose good policies. The fallacy of personal attack is often used to divert attention away from the issue at hand by focusing on irrelevant characteristics of people involved. The President proposes a tax increase to curb inflation. Rather than considering the merits of the policy, critics might erroneously argue that the policy is bad because the President once kicked his dog. The President might be a complete jerk, but this fact does not mean the tax increase is the wrong way to curb inflation.Here is an example of the fallacy of personal attack: - Suppose Professor Grumpinkston argues that governments have several important functions to perform in a market-oriented economy, including national defense, public education, transportation, and controlling the money supply.
- In rebuttal, Roland Nottingham calls the professor a tax-and-spend liberal, pinko, communist sympathizer who wants to dismantle the Bill of Rights and the free-enterprise system because he is a power-hungry demagogue who has no respect for American values or the game of baseball. Hence, anything the professor says about government functions is necessarily wrong.
- Whether Professor Grumpinkston does or does not fit this description is irrelevant to the proper role of government in the economy. He could be a neo-fascist, anti-government, pro-market, ultra conservative; or a middle-of-the-road, wishy-washy, undecided, apathetic moderate; both of which are also irrelevant to the validity of government functions in a market-oriented economy.
Attacking the professor's political philosophy has nothing to do with the pros and cons of particular government activities. Each activity should be evaluated on its own merit.
Recommended Citation:FALLACY OF PERSONAL ATTACK, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: October 10, 2026].
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time at a dollar discount store trying to buy either 500 feet of coaxial cable or a coffee cup commemorating the 1960 Presidential election. Be on the lookout for the last item on a shelf.
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"Be civil to all; sociable to many; familiar with few; friend to one; enemy to none. " -- Benjamin Franklin, statesman
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IARA
Increasing Absolute Risk Aversion
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