Quotation of the Day…

(Don Boudreaux)

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… is from pages 71-72 of University of Notre Dame philosopher James Otteson’s superb and hot-off-the-Cambridge University Press book, Seven Deadly Economic Sins (2021) (emphasis original):

[T]o know whether we are choosing well we need to account for what we are giving up. It is not enough to show that what we decide to do is a good thing or would lead to benefit. There are many things we might do that might be good, lead to benefit, or create value. What we need to know instead is whether what we are considering is not merely good but better than the other good things we would have to sacrifice to do it.