There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible. ↗
One thing, however, is sure, - that in all cases the effort should be to impose all the cost of repairing the wrong upon the doer of the wrong. This alone is real justice, and of course such justice is necessarily free. ↗
In economics, one of the most important concepts is 'opportunity cost' - the idea that once you spend your money on something, you can't spend it again on something else. ↗