While Mustapha Mond rationalizes that the happiness in the New World is preferable to the "high art" of the old world, it is easy for Mond to say this since he can have the best of both worlds, as he informs Bernard Marx:
"But as I make the laws here, I can also break them. With impunity....Which I'm afraid you can't do."
When the Savage says that he wants discomfort, God, poetry, danger, freedom, goodness, and sin; Mond tells him that he is claiming the right to be unhappy.
"I claim them all," said the Savage at last.
Mustapha Mond shrugged his shoulders. "You're welcome." he said.
Clearly, Mustapha--which means "the chosen one"--has accepted the "synthetic standards" of Community, Identity, and Stability, an artificial world that maintains a docility among the citizens that allows him security in his role as Controller, a position in which he can violate the law and enjoy some personal freedom, anyway. Once a gifted scientist and one of a few who can exert free will, Mond made a choice to be Controller instead of a dissident like some other Alpha-Pluses. Having read Shakespeare and other literature as well as history, Mond is aware of morality, but he chooses to employ his morality and intelligence to the amoral and conditioned goals of the utopia of the New World [Mond is a derivative of the French word monde, meaning world].
I think that you should go and look at Chapter 16 again. In this chapter, Mond talks to Helmholtz and John about the way the society is. I think that the best way to answer your question is to say that Mond feels that the benefits that the society has gotten from the exchange you mention have been worth it.
Mond talks about how freedom and such are kind of overrated. He talks about how people don't really think true happiness (what he says they have in their society) is all that exciting. However, he says, the kind of stability and happiness they have is way better than the freedom you could have in a different society. He says that being less free and more content is better than being more free but, at the same time, having more problems that face you.
Mustapha, being one of the controllers of the modern society, evidently believes that sacrificing freedom, individuality, and knowledge in particular, is necessary for stability and all-around function within society. However, he also has a deep appreciation for the likes of history, literature, and inquisitive science; all of which he, along with the other world controllers, have made extinct to the civilized world.At one point during his monologue near the end of the book, he mentioned how he was given the choice between becoming a highly respected controller or being cast off to an island where he could indulge in his passion for knowledge. Although he obviously chose to become controller, he hints towards some regret in sacrificing the latter option for power. So, I would say that Mustapha is torn between stability and individuality. But he, being a compassionate man, chooses the shallow prosperity of society over his own intellectual happiness.