From my favorite economist:
One of the last refuges of someone whose pet project or theory has been exposed as economic nonsense is to say: "Economics is all very well, but there are also non-economic values to consider." Presumably, these are supposed to be higher and nobler concerns that soar above the level of crass materialism. Of course there are non-economic values. In fact, there are only non-economic values. Economics is not a value itself but merely a method of trading off one value against another...Economics does not say you should make the most money possible…. What lofty talk about "non-economic values" usually boils down to is that some people do not want their own particular values weighed against anything.
- Thomas Sowell
No comments:
Post a Comment