Were we really the victims of greedy capitalist exploitation and profit seeking? Utility theory puts this question differently: Who chose to live under those conditions, and why? Had we not all come to Hampton House precisely because it offered something that each of us valued highly enough to justify the opportunity costs associated with being there?

via In Defense of the Market’s Worst Producers – David Greenwald – Mises Daily.


[dfads params=’groups=37&limit=1&orderby=random’]