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Quotation of the Day…

… is from page 242 of Deirdre McCloskey’s 2024 paper “Market Prices and Wages Do Not Reflect Ethical Value,” which is chapter 19 in The War on Prices: How Popular Misconceptions About Inflation, Prices, and Value Create Bad Policy (Ryan A. Bourne, ed., 2024):

The price system doesn’t guarantee nirvana, heaven, perfection. But beware of making the imagined perfect the enemy of the actual pretty good. Money prices don’t value us ethically. But they have yielded a 3,000 percent increase in human material welfare since 1800.

Not too shabby. Let’s keep it going.

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