That Which is Seen and That Which is Not Seen

"That which is seen" includes immediate, visible expenses or benefits, such as a new machine’s cost or increased sales. "That which is not seen" refers to the hidden or longer-term effects, like the wages of workers who benefit indirectly or the economic growth caused by the investment. Economist Frédéric Bastiat used this distinction to highlight how focusing only on visible outcomes can overlook the broader, less obvious impacts on society and resources. Understanding both helps make more informed decisions by considering both immediate and ripple effects.