Quotation Of The Day

Dave Killion — January 2, 2013

“My own approach is to think of the Coase theorem. Assume that you can’t redistribute happiness or wealth within the marriage. If your spouse is unhappy you will be unhappy and if your spouse is happy you are likely to be happy; happy wife, happy life. If you can’t redistribute happiness the play to make is to maximize total happiness. Maximizing total happiness means accepting apparent reductions in happiness when those result in even larger increases in happiness for your spouse. If you maximize the total, however, there will be more to go around and the reductions will usually be temporary.”

Alex Tabarrok, “Forgiveness, Tit for Tat, and the Coase Theorem

Ah, libertarians… such hopeless romantics.

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