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Quotation of the Day…

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… is from pages 95-96 of University of Notre Dame philosopher James Otteson’s superb and hot-off-the-Cambridge-University-Press book, Seven Deadly Economic Sins (2021): The fact that a proposed course of action would lead to a good result is necessary but not by itself sufficient to justify doing it. We must show not only that the proposed course of action would lead to a good result but in addition that it would lead to a better result than the other available alternatives. DBx: Much harm has been – and continues to be – inflicted on humanity by the failure to recognize this one simple truth. Comments

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… is from pages 95-96 of University of Notre Dame philosopher James Otteson’s superb and hot-off-the-Cambridge-University-Press book, Seven Deadly Economic Sins (2021):

Quotation of the Day…The fact that a proposed course of action would lead to a good result is necessary but not by itself sufficient to justify doing it. We must show not only that the proposed course of action would lead to a good result but in addition that it would lead to a better result than the other available alternatives.

DBx: Much harm has been – and continues to be – inflicted on humanity by the failure to recognize this one simple truth.

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Don Boudreaux
He is a professor of economics at George Mason University in Fairfax, Virginia. Previously, he was president of the Foundation for Economic Education.

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