A closer look, however, suggests that a rules-based approach is superior. 1  A good monetary policy rule specifies a plan of action which the central bank cannot later ignore, while discretion allows central bankers to reactâand often overreactâto economic indicators as they see fit.
Syntax errors are errors in your code such as a missing semi-colon. Run time errors are errors that appear during run time such as an infinite loop. Logic errors appear when your code does not do what you want it to do because of the logic such as the comparisons are wrong.
A fallacy is a mistake, and a logical fallacy is a mistake in reasoning. There are, of course, other types of mistake than mistakes in reasoning. For instance, factual mistakes are sometimes referred to as fallacies. However, The Fallacy Files is specifically concerned with logical errors, not factual ones.