Macroeconomist: Averting a severe hyperinflationary spiral requires the central bank to immediately halt the injection of unbacked liquidity into the market. However, the central bank will halt this injection only if the executive administration permanently relinquishes its statutory control over monetary policy. Therefore, we can be confident that if the executive administration permanently relinquishes its statutory control, the nation will successfully avert a severe hyperinflationary spiral.
Which of the following most accurately describes the logical flaw in the macroeconomist's reasoning?
- It treats a condition that must be met in order to achieve a desired outcome as a condition that is sufficient to ensure that outcome.Cevap
- BIt treats the absence of a condition that is sufficient to guarantee an outcome as guaranteeing the absence of that outcome.
- CIt infers that one event causally produces another event merely because the two events are conditionally related.
- DIt relies on the ambiguous use of a key economic term in two different contexts within the premises.
- EIt assumes that what is true of the broader macroeconomic system must also be true of its constituent regulatory bodies.
Cevap
The argument assumes that a condition required to achieve a goal is sufficient to guarantee it.
The argument correctly establishes that relinquishing control is a necessary condition for averting hyperinflation (Avert -> Halt -> Relinquish). However, the conclusion claims that relinquishing control will guarantee that hyperinflation is averted (Relinquish -> Avert). This is a classic illegal reversal, mistakenly treating a required condition as a sufficient one.
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Identifying Illegal Reversals (Confusing Necessary for Sufficient)
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