Wednesday, August 11, 2004

Brilliant!!

[I'd put quotes on that, but I don't want to imply that I don't mean it. Whose beer ad is it?]

From the Mises Institute:

What Does Marginality Mean?by Robert Murphy
[Posted August 2004]

...[L]et me point out one subtle contradiction by the critics of capitalism: The very same people who remind us over and over that a person's income is no measure of his or her intrinsic worth, are the ones who complain the loudest over this country's "priorities" when it comes to salaries. But if we are already agreed that a person's salary has no relation to moral worth or social importance, then why is the teacher (or nurse, fire fighter, etc.) entitled to more money than the professional athlete?

There is also much talk about the comparative values of water and diamonds and advice on what to do about sunk costs. (Hint: screw 'em.)

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