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Quotation of the Day…

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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. Comments

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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):

Quotation of the Day…[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.

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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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