"The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups"

Henry Hazlitt's quote emphasizes the importance of looking past the prompt effects of any type of act or plan when considering economics. He suggests that economists should think about the long-term results of any plan, not just for one team, but for all groups. This means that financial experts need to take into consideration the potential effects of any type of policy on all stakeholders, including those who may not be quickly influenced. This quote highlights the relevance of considering the prospective consequences of any kind of policy, and also the need to think beyond the prompt effects. It also highlights the requirement to consider the influences of any type of plan on all groups, not simply those that are immediately influenced. By doing so, economic experts can make certain that any type of plan is beneficial for all stakeholders in the long-term.