Quote :: There is often no alternative but thinking in terms of a “second” or “third” best. But….

There is often no alternative but thinking in terms of a “second” or “third” best. But that thinking is more soundly directed if done in terms of an image of what the “first” best would be, and how the “second” and “third” bests might be designed to move in the direction of that “first” best, or at least not to be in contradiction with it.
via .Too Good for the Comments: Ebeling on Mises the Applied Economist