In like manner, a true belief cannot be called knowledge when it is deduced by a fallacious process of reasoning, even if the premisses from which it is deduced are true.
I do not propose to examine this argument in detail, or to show the exact points where, in my opinion, it is fallacious. I have quoted it only as an example of method.
It would seem that cases of fallacious memory can probably all be dealt with in this way, i.e. they can be shown to be not cases of memory in the strict sense at all.
Obviously, however, if the classical theory is only applicable to the case of full employment, it is fallacious to apply it to the problems of involuntary unemployment-if there be such a thing (and who will deny it? ).