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Economic Calculation
"Once we see clearly how highly we value beauty, health, honor and pride, surely nothing can prevent us from paying a corresponding regard to them. It may seem painful to any sensitive spirit to have to balance spiritual goods against material. But that is not the fault of monetary calculation; it lies in the very nature of things themselves. Even where judgments of value can be established directly without computation in value or in money, the necessity of choosing between material and spiritual satisfaction cannot be evaded. "
- Mises, 1920, Economic Calculation in the Socialist Commonwealth
This entry was posted on December 27th, 2012 at 16:58:00 by JRP and is filed under culture.
