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Photo: Climate activists at the U.S. Chamber of Commerce Climate activists protest at the U.S. Chamber of Commerce after scaling the building on October 14, 2021 in Washington, DC. (Photo by Kevin Dietsch/Getty Images)

There are costs to living a virtuous life: It requires going without. This is true psychologically, because sacrifice gives virtue meaning. But it’s also true mathematically. You pay a price when you constrain whom you will buy from, whom you will work for, and what you will invest in.

When times are good, the costs of a virtuous life may not seem too high, but eventually the bill comes due. That reckoning is now. We may be seeing the end of the virtue economy bubble. And that’s not necessarily bad, because the virtue economy wasn’t making the world a better place. It may have even been making it worse.

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