In essence, William James's statement suggests that when we pursue something with the highest quality as our goal, the true masterpiece or supreme item becomes valuable and inexpensive regardless of its monetary cost. This idea implies that while an object may have a high price tag, if it does not meet the standard of being the finest in its category, it cannot be considered truly cheap or worthwhile.
Digging deeper into this quote reveals several layers of meaning. James is emphasizing the importance of setting high standards and valuing quality above all else. When we focus on acquiring something that surpasses all others in its field, we recognize that such a rare gem has intrinsic value that transcends mere financial worth. Conversely, if we settle for less than the best, no matter how affordable it might be, it will not provide the same satisfaction or utility. This perspective encourages us to prioritize substance over superficial measures of worth and reminds us to seek out excellence in every aspect of our lives.
William James, an influential American philosopher and psychologist from the late 19th century, is renowned for his contributions to pragmatism and his pioneering work in psychology. His ideas often revolve around the practical implications of philosophy on everyday life, making him a key figure in shaping modern thought processes about value and quality.